Weekly market review (week/YTD)
Indices with 7 consecutive down weeks in a row.
$SPY and $QQQ had a strong close on Friday, but the trend is still decisively down. The bear market is expanding to other sectors than tech. This week consumer discretionary got hit the most, especially retail with bad numbers coming from $WMT and $TGT
Although the Fear & Greed Index is quite low at 11, the mood on Fintwit isn’t that catastrophic. It’s still a happy bunch overall. Or maybe that’s just my bubble and all the negative people left bc they blew up buying speculative tech stocks and/or imaginary internet money/JPEGs.
My public portfolio is obviously down, but in line with $SPY. I primarily own quality companies and this makes me sleep well at night. As a value investor, I’m actually quite relieved that the bubble in speculative stocks popped this year and valuations matter again.
Check out my public portfolio to follow all my investments: