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In Bear market or not ?
With bear market news around the corner, I dipped into the charts of S&P 500 'Top 10' stocks to check on their current levels. Here are the insights :

  • Current Top 10 S&P stocks by weight (in the order )
( My watchlist had $JPM as 10th entry. It has been replaced with $UNH. Any thoughts ?)

  • 8 out of 10 stocks are under 50SMA and 200SMA on daily charts except for $BRK.B and $UNH which are just touching 200MA.

  • However, on weekly charts, I see 6 out of 10 stocks between 50SMA and 200SMA. 2 stocks above 50SMA and 200SMA. And the last 2 , $AMZN and $FB crossed below 200SMA.

With looming food shortage , spiked gas prices , ongoing war , inflation , housing market potentially entering correction , hiring freeze from companies etc.. more drawdown of S&P 500 index expected ?

I am trying to find information to see if i have to rebalance some of the funds to have more bond exposure. I am planning to go 100% SPY index when we flatten out and start showing some strengths in the months to come.

Abilash Satya's avatar
$11.4MFollowers
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