A Little Extended Here

Pull-back looks likely. Futures are down. This isn’t terribly surprising given last week’s rise.

The technicals are starting to come in line with more typical trading behavior. Looking at the SPX, support looks to be around 3921 at the 50-day moving average. Resistance at 4206.

No major negative surprises out of the Fed last week. Some spin around the recession figures (as in, let’s not officially call the recession, even though we all know it’s real). This recession is different though. The jobs market hasn’t felt it yet. Inflation is yet to be tamed though. We’re probably in the mid-innings on this one — past half-way, but not over yet.

Stay tuned.

IMPORTANT DISCLOSURE INFORMATION

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by BigFoot), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from BigFoot. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. BigFoot is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the BigFoot’s current written disclosure statement discussing our advisory services and fees is available for review upon request.