TradingEdge Weekly

Jason Goepfert

5-13-2022 at 3:15 pm

TradingEdge Weekly for May 13 - More new lows, washed out sentiment, tightening financial conditions

This week, we saw more weakness across most markets. There was a large spike in issues falling to 52-week lows on both the NYSE and Nasdaq exchanges, as more than half of S&P 500 stocks fell into a bear market. The price/earnings ratio of the index has already dropped more than 35%. Declining markets are causing financial conditions to tighten and sentiment to become despondent.

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