{"id":59108,"date":"2022-02-27T23:19:52","date_gmt":"2022-02-28T07:19:52","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=59108"},"modified":"2022-03-06T20:30:06","modified_gmt":"2022-03-07T04:30:06","slug":"stock-chart-reviews-snapshots-of-survival-from-descents-into-oversold-territory","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2022\/02\/27\/stock-chart-reviews-snapshots-of-survival-from-descents-into-oversold-territory\/","title":{"rendered":"Stock Chart Reviews – Snapshots of Survival from Descents Into Oversold Territory"},"content":{"rendered":"\n

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

Trading with on-going headline risk is difficult for bulls and bears. I find it useful to pick a narrative, pick an anchor, and stay as disciplined as possible. My foundation remains with the principles of trading contrary to extremes. Last week, the market tested the extremes of oversold trading conditions and survived surprisingly quickly<\/a>. However, the drama (and tragedy) is far from over. At the time of writing, U.S. stock market futures are down over 2% on the latest war headlines (although currency markets are showing little of the strain outside of the Russian ruble<\/a> which dropped as much as 30% under the weight of economic sanctions, see “Watch Currencies, Not Stocks, As Geo-Political Tensions Continue to Rise<\/a>” for more details). The renewed weakness threatens to take the major indices right back to the bottom of the churn zones…and possibly worse. Since I reset some oversold trades on Friday, I will wait out the latest bout of volatility until\/unless fresh oversold conditions occur. In the meantime, I will brace myself as I have committed to minimal hedging for now. The charts below are snapshots of survival that could change all over again…with some fresh buying opportunities ahead.<\/p>\n\n\n\n