{"id":62109,"date":"2022-11-30T16:43:23","date_gmt":"2022-12-01T00:43:23","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=62109"},"modified":"2022-12-01T01:32:53","modified_gmt":"2022-12-01T09:32:53","slug":"stocks-rush-back-to-overbought-despite-powells-fresh-inflation-fighting-warnings-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2022\/11\/30\/stocks-rush-back-to-overbought-despite-powells-fresh-inflation-fighting-warnings-the-market-breadth\/","title":{"rendered":"Stocks Rush Back to Overbought Despite Powell’s Fresh Inflation-Fighting Warnings – The Market Breadth"},"content":{"rendered":"\n

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

Social unrest from fresh COVID lockdowns in China are already a distant memory for the U.S. stock market. Just as quickly as the stock market bearishly failed once again to hold overbought trading conditions<\/a>, market breadth flipped the script to surge and rush back to overbought. Buyers and bulls celebrated a speech from Jerome Powell that, to me, seemed as hawkish as ever and contained almost no new information<\/a>. By ignoring Powell’s fresh inflation-fighting warnings, buyers seemed to focus on the small possibility that the Fed will cut rates sooner than expected next year. Expectations for peak rates remain the same. Accordingly, I am highly skeptical of this rally and very wary. Yet, I will not let the fundamentals get in the way of the technicals in this moment. All over again, the stock market seems ready to ride seasonal tailwinds at least until the Fed’s December 14th release on monetary policy.<\/p>\n\n\n\n