{"id":58721,"date":"2022-01-16T12:59:44","date_gmt":"2022-01-16T20:59:44","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=58721"},"modified":"2022-01-16T23:34:42","modified_gmt":"2022-01-17T07:34:42","slug":"stock-chart-reviews-snapshots-of-digital-lows-material-highs","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2022\/01\/16\/stock-chart-reviews-snapshots-of-digital-lows-material-highs\/","title":{"rendered":"Stock Chart Reviews – Snapshots of Digital Lows and Material Highs"},"content":{"rendered":"\n

Stock Market Commentary<\/strong><\/h2>\n\n\n\n

My bullishness waned with last week’s manic trading action. I called the resulting patterns choppiness toppiness<\/a> to reflect a biding sense that the market is churning out some kind of lasting top. Still, under the surface of the churn is a fresh divergence. The stock market is full of digital lows and material highs. Stocks representing the expensive growth prospects of the digital world continue to suffer from selling pressure. An unfriendly Federal Reserve is forcing investors to lower risk tolerance and their willingness to pay for little to no profits. The resulting valuation compression is particularly cratering price\/sales ratios. Stocks in companies working in the material world are enjoying significant buying strength. In some cases these material highs are generating all-time highs. I expect this divergence to continue at least as long as the prospects for the (real) economy continue to look healthy. <\/p>\n\n\n\n