845 days ago • Posted by Paul de La Baume
S&P 500 : year in review #stocks #S&P500 #technicalanalysis #investing $SPY
It's difficult to believe the S&P 500' performance of close to 27% gains year-to-date. The index is heavily skewed towards the mega-cap tech stocks and financials which have done very well this year. It's been a year with a lot of 'scares' around the ongoing pandemic, supply-chain disruptions, inflation, central banks tightening, hedge funds blow ups, insiders record sells, and so on. Despite these risks, earnings are strong, balance sheets healthy, and corporate buybacks are at records this year. Nonetheless, fears of an overly aggressive Fed tightening and persistent inflation is weighing on the market. From a technical angle, the S&P 500 index has maintained its ascending pattern, currently closer to the top of its range.
