Bond traders have talked themselves into believing the Fed will kill the economy just as stock traders are starting to think that a fading economy could be a good thing, since it would cause the Fed to ease rates. But be that as it may, stocks are stuck in the mud–so oversold that it’s hard for short sellers to pound them down further while, at the same time, there aren’t enough buyers to move prices decidedly higher.

Certainly, the current scenario could change, especially if more buyers emerge. Yet as earnings season develops, the odds of earnings misses and early announcements of upcoming earnings could easily derail any rally.

Of course, the problem, at this point, is that no one knows how much of a bad earnings season is already baked into stock prices. This is why staying cautious is the most reasonable course of action.

What are Oil Prices and Transportation Stocks Telling Us?

Oil and gasoline prices usually trade in different directions from transportation stocks. But what does it mean when they both move in tandem?

We are in an interesting junction in the MELA system (M–markets, E–economy L–life and financial decisions and A–Algos), as the interplay between the fall in the stock market and the economy may be reaching a make-or-break point. Of course, that’s because the main financial engine of the economy, the stock market, is getting crushed. In this section, I will be looking at the relationship between fuel prices and the state of the trucking industry.

Recent economic data suggests that consumers are pulling back on their expenses significantly. Consider the following:

Consumer confidence is near record lows
The Atlanta Fed’s GDP model is forecasting (-2.1) growth in Q2. If true, this would mean we are in a recession, since Q1 GDP growth was (-)1.6%;
Other regional Federal Reserve banks, in their periodic surveys, are also registering rapid economic growth. In the case of the Dallas Fed, the comments from businesses surveyed were fairly dramatic;

The Meta (FB) CEO has reportedly told his employees to tighten their belts and that layoffs are coming;

ISM and PMI data, as well as moderately rising jobless claims, are also showing a slowing in the economy.

The U.S. Ten Year note yield (TNX) has crashed below 3% again, suggesting that there is a growing number of investors that is betting that the Atlanta Fed and the rising amount of data predicting a slowing economy is correct.

And although inflation is a monetary phenomenon–too much money chasing too few goods–it’s hard to argue with the tangible effect of high gasoline prices on individual pocketbooks. Which is why the recent decline in the price of oil and gasoline is worth looking at as the summer driving season develops.

Recently, we’ve seen a break in West Texas Intermediate (WTIC) below $110 per barrel from its highs near $130 earlier in the year.

For its part, gasoline at the wholesale spot level has dropped to the $3.50 per gallon range. Roughly speaking, that type of drop should lead to retail prices falling below $5 per gallon, give or take some.

In my area, I’m seeing regular gasoline selling at around $4.55-$4.85 per gallon, but prices have begun to creep up. Premium and diesel have not backed off much at all.

All of which brings me to the trucking sector, where the headlines are grim, but stock prices are not falling much further. Case in point, shares of Old Dominion Freight Lines (ODFL), a nationwide freight and logistics firm, seem to be attracting a bit of money these days. In fact, the activity in non-West Coast ports is rising rapidly, which may account for the slight improvement in trucking company share prices as investors price in an increase in demand for their services. Indeed, the data suggests that there is no real slowing in port activity. And that means that somebody is buying products from abroad.

So, the question is, why? Is this the last gasp of the COVID-19 inventory buildup? Are some businesses expecting an economic resurgence at some point in the future? Perhaps a third, more ominous, possibility is that some are fearing a further worsening of the international order and are stocking up on goods just in case. On the other hand, it’s always darkest before the dawn. Either way, we may be pleasantly surprised–or unpleasantly fooled. No matter what, it seems that we’re about to find out fairly quickly, as events in MELA unfold at the speed of light.

Final thought: What happens if oil and gasoline prices rebound as investors start to price in a Federal Reserve easing cycle?

Welcome to the Edge of Chaos:

“The edge of chaos is a transition space between order and disorder that is hypothesized to exist within a wide variety of systems. This transition zone is a region of bounded instability that engenders a constant dynamic interplay between order and disorder.” – Complexity Labs

For more on a risk-averse approach to trading stocks, consider a FREE trial to my service. Click here.

I have recently posted a new Your Daily Five video for StockCharts TV, in which I suggest that the market’s liquidity problems may be easing. Check it out here:

NYAD Perks Up as VIX Rolls Over

The NYAD Advance-Decline line (NYAD) recently made a new low and remains in a downtrend, but it is trying to move off of its recent bottom. So, if NYAD can climb back above its 20- and 50-day moving averages, we could have a more convincing rally.

Meanwhile, the CBOE Volatility Index (VIX) has rolled over, while NYAD is rising. This is a more normal relationship and is mildly bullish at this time. A rise in VIX means rising put option volume, a bearish development for stocks.

The S&P 500 (SPX) may be in the early stages of a bottoming process. But we still need to see an SPX close above 3900-4000, as that would bring in more money from the sidelines. Very stiff resistance awaits at 4100 and above.

The Nasdaq 100 index (NDX) remains fairly weak, failing to hold above its 20-day moving average, with more overhead resistance at the 50 day and the 12500 area. On the bright side, Accumulation Distribution (ADI) is trying to perk up. This means that short sellers are paring their positions. Unfortunately, On Balance Volume (OBV), which was improving, rolled over again.

12,000 remains tough resistance for NDX.

To get the latest up-to-date information on options trading, check out Options Trading for Dummies, now in its 4th Edition – Get Your Copy Now! Now also available in Audible audiobook format!

#1 New Release on Options Trading

Good news! I’ve made my NYAD-Complexity – Chaos chart (featured on my YD5 videos) and a few other favorites public. You can find them here.

Joe Duarte

In The Money Options

Joe Duarte is a former money manager, an active trader and a widely recognized independent stock market analyst since 1987. He is author of eight investment books, including the best selling Trading Options for Dummies, rated a TOP Options Book for 2018 by Benzinga.com and now in its third edition, plus The Everything Investing in Your 20s and 30s Book and six other trading books.

The Everything Investing in Your 20s and 30s Book is available at Amazon and Barnes and Noble. It has also been recommended as a Washington Post Color of Money Book of the Month.

To receive Joe’s exclusive stock, option and ETF recommendations, in your mailbox every week visit https://joeduarteinthemoneyoptions.com/secure/order_email.asp.

ARKK may be the most extraordinary example of sheer brilliance and horrific money management combined.

We all watched ARKK fly to its peak in early 2021. We all watched ARKK tumble to nearly 70% of that peak this year in 2022. And we all listened to Cathie Wood dig herself deeper into her long-term beliefs about disruptive tech, disinflation and the future of humanity.

In the ARKK fund, Tesla, Inc. remains the largest holding, with ROKU Inc., Teledoc Health, Square Inc. and Zoom Video Communications making up the rest of the top five. As we investors and traders began the week, ARKK, which already began to intrigue me as a potential bottom trade, started the session in the red. Meanwhile, as ROKU, Zoom and Unity Software (also a holding that went green early) looked promising, I put up an ARKK chart to first assess risk.

Whether this is a bottom or relief rally remains to be seen, but why was the risk so compelling?

On May 12th, ARKK made a new low at 35.10. If you look at our two proprietary indicators, the Leadership chart shows that at the time, ARKK underperformed the benchmark. The Real Motion indicator (momentum) showed that, at the day it made the low, momentum was having a mean reversion (current market price is less than the average past price). ARKK was oversold, and our momentum chart reflected that. Incidentally, the price on May 12th also flashed mean reversion when the price broke below the Bollinger band, then closed above it.

Since then, ARKK made a higher low June 14th at 35.65. Soon after, by June 23rd, ARKK began to take leadership over the benchmark. Subsequently, Real Motion flashed a positive divergence in momentum when the red dotted line crossed over the 50-day moving average (blue line).

Back to today. After ARKK opened lower first thing, the rally began. ARKK shows a stronger outperformance to the benchmark now. It also has better momentum — in fact, the best momentum since April, when the price was trading above $60.00. ARKK cleared the 50-DMA on price for the first time since April as well. Now, we want to see it hold and close over the 50-DMA again to confirm a phase change to recuperation. We want to see momentum continue going strong.

Which brings me back to risk. As an early-in-the-day buyer, we were able to risk under the 2022 low. If this is truly a bottom, that low should hold. If not, we have a viable stop loss. Plus if we are right, we can add to the position and raise the risk point accordingly.

All in all, we applied smart money management to a potentially brilliant fundamental narrative.

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

With newer fears of recession, Mish takes a walk back to the 1970s, when dislocation wreaked havoc by the end of the decade, in this video from Bloomberg TV.

See Mish’s latest appearance on BNN Bloomberg!

See other recent BNN Bloomberg Appearances from Mish here.

ETF Summary

S&P 500 (SPY): 378-380 support zone after a rocky start.

Russell 2000 (IWM): Support is 170; needs to clear 174 to stay in the game.

Dow (DIA): 307 support, needs to clear 315.

Nasdaq (QQQ): 282.50-283 pivotal and 290 resistance.

KRE (Regional Banks): 56 the 200-WMA 60 resistance.

SMH (Semiconductors): If yields stay lower, then this could see it way back over 200.

IYT (Transportation): 211.90 support with resistance at 220.

IBB (Biotechnology): Our leader and maybe savior as in 2009, it was the first of the Family to bottom. Now needs to hold 120.

XRT (Retail): Respected the inside day and broke out over 59.24 now support.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

One very interesting and intriguing part of stock trading is that Wall Street disguises their buying/selling and rotation, as many times the absolute charts don’t tell us the REAL story. I want you to look at the absolute price action in both mid-cap growth ($DJUSGM) and mid-cap value ($DJUSVM):

Mid-Cap Growth:

If you do not look at relative strength, doesn’t the DJUSGM simply look like it’s downtrending within a channel? Does it show any sign of hope? I don’t think so. BUTTTTT, under the surface, these growth stocks are suddenly showing bullish rotation and relative strength vs. the benchmark S&P 500. This is why relative strength is SO critical in your evaluation of market strength/weakness. The absolute chart says SELL, but the relative chart shows bullish rotation. Note that the opposite occurred at the DJUSGM high in late 2021. Absolute price action looked solid, moving to fresh new highs, but Wall Street was rotating OUT of this asset class. Only relative strength showed this subtle reallocation.

Mid-Cap Value:

The absolute chart simply shows a breakdown and further weakness in another area of the market – a bearish signal. But notice that these value stocks were “relative” leaders during the market weakness in 2022. That’s typical during a bear market as traders want to eliminate the risk that are inherent with growth stocks, so they “rotate” to value stocks. It doesn’t mean that value stocks go higher, but rather that value stocks OUTPERFORM. Now look again at that bottom panel. Do you see the rotation AWAY from value stocks, relative to the benchmark S&P 500?

This is insanely important in evaluating the stock market.

The above two charts were both looked at independently and vs. the benchmark S&P 500. I actually prefer, however, to look at an S&P 500 chart, with a panel below that compares mid-cap growth vs. mid-cap value($DJUSGM:$DJUSVM). I call it a “sustainability ratio”. If the S&P 500 is going higher and this sustainability ratio is going higher, it tells us that growth remains in favor and the S&P 500 strength is likely (note I didn’t say guaranteed – no such thing as a guarantee) to keep moving higher – with profit taking normal along the way. And during a correction or bear market, I’d expect to see that DJUSGM:DJUSVM ratio declining to support a further decline in the S&P 500. Having said all of this, check out how this chart currently looks:

Ask yourself a very simple question and be honest. If inflation fears and/or recession fears are likely to send U.S. equities spiraling lower in the second half of 2022, WHO IN THEIR RIGHT MIND WOULD BE ROTATING OUT OF VALUE AND INTO GROWTH? Seriously, who?

When you come up with an answer to that question, please respond in the comments below. If you’d prefer to keep your comments private, send an email to me at “support@earningsbeats.com”. My approach to stock market investing/trading is one of common sense. I ignore all the brainwashing found at media outlets and follow the charts. Please tell me what I’m missing in the growth vs. value story that the charts above are telling.

Also, TONS of mid-cap growth stocks are looking so much better on their charts and I’ll feature one in my next EB Digest newsletter. To subscribe for FREE (no credit card required), simply CLICK HERE and provide us your name and email address. We’ll provide you that mid-cap growth stock chart and writeup with our next newsletter article on Friday.

Happy trading!

Tom

In case you haven’t followed my work, I was very bearish U.S. equities as we opened 2022. I didn’t wait to see the carnage to tell you that there was carnage. I predicted the carnage before we ever saw it. Included in those bearish predictions was a wild prediction about Apple, Inc. (AAPL) on January 4th, 2022. I suggested that AAPL could fall 20-30%. You can check out what I wrote in the following article, “The Great Divide Presents Big Problems….and a Wild Prediction for Apple (AAPL)”. After you read the article, make sure you “subscribe” to my Trading Places blog below the article. If you provide StockCharts.com your name and email address in the space provided, all of my Trading Places blog articles will be sent directly to your inbox as soon as my articles are published. That way, you won’t miss another one.

In my January 7th ChartWatchers article, I published a chart of AAPL, showing the history of significant declines in its past and, once again, suggesting that AAPL could see a selloff of 20-30%. I went on to show a chart that would illustrate what AAPL would look like if it were to fall 35% – as it did in previous down cycles. Here’s the chart I showed then, with the subsequent 2022 market action in the chart as well:

Now REMEMBER, this chart was provided in early January at the market top. There was no Monday morning quarterbacking here. There are a lot of perma-bull AAPL fans out there that criticized me at the time. But I’m sure they wish they had sold back then now.

So what’s my current thinking on AAPL? I LOVE IT! Could it move lower? Sure, but its history suggests that we buy these types of corrections. AAPL reached a low of 129.04 on June 16th, which represented a 29.27% decline off of its all-time high of 182.44 on January 4th, 2022. There’s a historical component that makes AAPL very compelling right now. Since the S&P 500 broke out to new all-time highs on April 10, 2013 (clearing tops in 2000 and 2007), AAPL’s best two consecutive calendar months for relative performance is July and August. You don’t have to believe me, just look at this seasonal chart:

Finally, let’s take a quick look at the positive divergence (slowing selling momentum) that’s printed on AAPL’s daily chart:

Note that AAPL flashed a negative divergence to support the notion of slowing buying momentum and the bearish theory back in January.

AAPL is just one piece of a July Seasonality Report that I’ll be sending out to EarningsBeats.com members later today. If seasonality interests you and you’d like to view my entire July Seasonality Report, you can CLICK HERE (and then scroll down) to start a FREE 30-day trial to our service.

If you’d like to learn more about our style and strategies, you can subscribe HERE to our FREE 3x per week newsletter, EB Digest. This free newsletter requires no credit card and you may unsubscribe at any time!

Happy trading!

Tom Bowley, Chief Market Strategist, EarningsBeats.com

SPX Monitoring Purposes: Long SPX on 5/31/22 at 4151.09.

Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78.

Long Term SPX Monitor Purposes: Neutral.

We marked the close prices in blue for the TRIN (first #) and TICK (second #) over the last couple of weeks. A TRIN close above 1.30 show panic and a TICK close below -200 show panic, and panic is what stock market bottoms are made of. The TRIN closed Thursday at 1.84 and the Tick at -222, which are bullish and suggest a bottom is near. We listed the panic TRIN and TICK closes over the last couple weeks, which came in the ranges of 365 to 380. SPY levels suggest support and that intermediate term low may be forming.  We also noted today’s intraday reading for the TRIN (2.73) and TICK (-1473); these readings came near the low for today. We may see a rally coming that could test the early June high near 420 on the SPY.

The bottom window is the correlation between the VVIX and SPX. When this correlation gets above “0” and turns down, it suggests a reversal in the market is near, but doesn’t give a direction. The next window up helps with the direction part of the equation, which is the VVIX/VIX ratio with a 3-period moving average. This ratio helps to define the direction of the SPY. Last week, it turned up, suggesting the SPY may start to rally from here.

Last week, we said, “‘Rare signal generated on GDX. The last time this type of signal was generated was last October low. The signal is the RSI for the Bullish Percent index for the Gold Miners index. When the RSI for the Bullish Percent index falls below 5 (current reading is 4.40), the market was at an intermediate-term low.’ This chart is displayed above and updated to current data. We took this indicator back to where it began, which is 2008. There have been eleven signals of this type (not counting the current signal) going back to 2008 and there where one failure in 2013 (middle of a major bear market for Gold and gold stocks), which works out to a 91% success rate. Of the 10 signals that did work out, all had good rallies and some turned into major advances. All major signals are hard to stick with and the current one is no different.” Added to the above, the RSI for the Bullish Percent index for the Gold Miner’s index stands at 2.23. We added Fibonacci retracements, which GDX stands at 50% and GLD at 38.2%, showing GLD holding up better than GDX.  Either this is like 2013 (marked with Fail on chart above) or the market is making a bottom here like the other 91% of the time. At major lows in GDX, there is a “Flush”, and maybe that is what is going on here.

Tim Ord,

Editor

www.ord-oracle.com. New Book release “The Secret Science of Price and Volume” by Timothy Ord, buy at www.Amazon.com.

Signals are provided as general information only and are not investment recommendations. You are responsible for your own investment decisions. Past performance does not guarantee future performance. Opinions are based on historical research and data believed reliable, there is no guarantee results will be profitable. Not responsible for errors or omissions. I may invest in the vehicles mentioned above.

Global demand for natural gas continues to skyrocket in the wake of Russia’s invasion of Ukraine.

Over the last year, demand for LNG has risen incredibly, as have LNG stockpiles. The United States is competing with Australia and Qatar for the world’s largest exporter of natural gas to supply Europe. With Russian natural gas supplies essentially off the table in Europe, natural gas prices are projected to rise much further. (Russia furnished half of the European Union’s gas imports in 2021.)

The conflict and sanctions have caused a price differential and supply disruption between the US and European LNG. Europe’s energy markets are greatly disadvantaged. On the demand side, European power costs soared late last year, even before Russia invaded Ukraine. That is also one of the underlying structural reasons suggesting that a recession will most likely not permanently cure rising natural gas prices in Europe.

Then, with all the strong fundamentals, why has natural gas futures fallen so hard so fast?

Natural gas futures are extraordinarily volatile and recently fell 18% in a month. Supply remains extremely tight. Furthermore, just today, Bloomberg put out a story that the cost of sand has spike 150% in Texas.

The COVID rebound, like so many other parts of the economy, continues to create mismatches, supply chain constraints, and dislocations. Frackers are having issues with sand supply and have seen disruptions, labor shortages and trucking bottlenecks. Still, companies, governments, and investors continue to consume, produce, and supply energy and, at the same time society is developing renewable energy plans, including renewable natural gas and hydrogen, to reduce emissions and meet global net-zero targets.

Where Technicals and Fundamentals Meet

The weekly chart shows the major support at both the 50 and 200-week moving averages. Should UNG clear the 200-DMA very soon, then one could enter long in anticipation that the price versus fundamentals became dislocated, and trade it with a very tight risk under recent lows.

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

See Mish as she joins MarketGauge’s Keith Schneider, DecisionPoint’s Erin Swenlin and StockCharts’ David Keller to discuss how they coped with past prolonged bearish periods in the new StockCharts TV special presentation “Survival of the Fittest: A Brief History of Bear Markets”.

Mish talks about China, ARKK, Staples and Commodities – regardless where the economy goes – in this appearance on Fox Business’s Making Money with Charles Payne.

Read Mish’s latest article for CMC Markets, “When Dr. Copper Speaks, We Listen“.

With newer fears of recession, Mish takes a walk back to the 1970s, when dislocation wreaked havoc by the end of the decade, in this video from Bloomberg TV.

ETF Summary

S&P 500 (SPY): 378-380 support zone.

Russell 2000 (IWM): Support is 170; needs to clear 174 to stay in the game.

Dow (DIA): 307 support and needs to clear 315.

Nasdaq (QQQ): 282.50-283 pivotal and 290 resistance.

KRE (Regional Banks): 56 the 200 WMA 60 resistance.

SMH (Semiconductors): 200 resistance.

IYT (Transportation): 211.90 support with resistance at 220.

IBB (Biotechnology): Needs to hold 120.

XRT (Retail): 59.24 pivotal support.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

Crude oil futures prices peaked on June 8, 2022, with a closing price of $122.41/barrel for the near-month contract. Since then, prices have fallen 24 points to a closing price of 98.13 on July 6. It is not at all unusual to see such price volatility in the midst of a supply squeeze. But what is unusual is that we are seeing a similar price drop throughout the crude oil futures market.

Normally, a supply squeeze will affect just the near-month contract, meaning the one closest to expiration, and perhaps the next one or two contracts in succession. The far-out month contracts, which do not mature for several more months, typically do not manifest the high volatility of the near month contracts during a supply squeeze. And so, as the supply squeeze starts to abate itself and supply/demand forces start to get back into balance, the premium of the near month contract over those far into the future starts to dissipate.

That is the normal model for how things work. But things are not working that way right now. 

The crude oil futures market has been in a pretty severe condition of “backwardation,” meaning that the price of the near month contract is far above the prices of those contracts further out into the future. I show that in this week’s chart, which measures the spread between the current month contract price and that of the contract 11 months out. A supply squeeze puts a premium on oil that can be delivered now, which turns into a big positive spread in the chart, showing as “backwardation” of the contract pricing. 

A more normal condition is to have farther out contracts priced higher than the near month contract, which is known as “contango.” A large contango condition in the crude oil futures market is a pretty good sign of an important price bottom. Similarly, a large condition of backwardation is a sign of a price top.

Sure enough, the big backwardation condition we have just been seeing recently in 2022 has now led to a big price drop, taking oil prices back below $100/barrel. But it has come with a proportionate drop throughout the maturity spectrum of oil futures, meaning that the far-out months are dropping almost as fast. That is resulting in oil maintaining a pretty large condition of backwardation.

The implication is that there is going to be even more of a decline in crude oil prices, because the near-month price will need to naturally contract back downward to meet where the far-out month contracts are priced, just to get back into equilibrium. But that equilibrium is running away as fast as the near-month contract can chase it. 

There is one more interesting point in this week’s chart. For several years now, I have been expecting that the $105/barrel price level would someday display some importance for oil prices. That expectation arose out of noticing that a nearly symmetrical triangle had formed in oil prices from 2011-2014. The apex of that triangle structure was at the $105/barrel level, and apices can have future importance either in terms of timing or of price. Sometimes an apex will display importance in both ways.

In this case, the moment of the apex in mid-2015 marked the peak of a countertrend rally in oil prices, which was pretty interesting. But the price level of the apex also should have mattered, and I suspect it would have mattered more precisely had the Russian invasion of Ukraine not intervened to disrupt things. As it was, the chopping around in oil prices at a high level since that invasion has been happening centered on the 105 level, a behavior which I believe is honoring the message of that triangle apex. 

Sometimes there is fascinating symmetry in the price charts. 

For now, the message of the continued backwardation is that there is still more room for oil prices to decline in the coming months. 

For more on the topic of backwardation and contango, click here and here to read some informative articles from our web site’s Learning Center.

On this week’s edition of Stock Talk with Joe Rabil, Joe shows the 3-5 different entry signals that can be taken based on your risk tolerance. He explains that, in most cases, you will have to pay higher prices for confirmation of a shift in trend. He also discusses how to use MACD and ADX to help confirm a reversal. He then goes through the stock requests for the week, including GDX, MU and more.

This video was originally broadcast on July 7th, 2022. Click this link to watch on YouTube. You can also view new episodes – and be notified as soon as they’re published – using the StockCharts on demand website, StockChartsTV.com, or its corresponding apps on Roku, Fire TV, Chromecast, iOS, Android and more!

New episodes of Stock Talk with Joe Rabil air on Thursdays at 2pm ET on StockCharts TV. Archived episodes of the show are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show. (Please do not leave Symbol Requests on this page.)

In this week’s edition of the GoNoGo Charts show, Tyler looks at the nature of trends in defensive sectors through GoNoGo charts. Leading sectors include consumer staples and healthcare. Considering the ratio of SYY:CSCO, we can see through the GoNoGo Trend identifies that toilet paper is outpacing technology in 2022. Digging into Merck and Biotech, Tyler observes new “Go” trends in the healthcare arena are providing some opportunities to the long side in an otherwise bearish US Equity market.

This video was originally recorded on July 7, 2022. Click this link to watch on YouTube. You can also view new episodes – and be notified as soon as they’re published – using the StockCharts on demand website, StockChartsTV.com, or its corresponding apps on Roku, Fire TV, Chromecast, iOS, Android and more!

New episodes of GoNoGo Charts air on Thursdays at 3:30pm ET on StockCharts TV. Learn more about the GoNoGo ACP plug-in with the FREE starter plug-in or the full featured plug-in pack.

Join the Wealth365 Investment Conference July 13th and 15th!