Rally Continues Following Breaks in USD & 10-Yr Yield Our Russell 2000 (IWM) and S&P 500 targets for this rally have been the 200-day MAs, coinciding with YTD downtrends. The Russell already hit this target while the S&P is closing in, less than 1% away. Still, the vast majority of signals point to further upside ahead for the market indexes. These same signals also suggest a possible end to this bear market, something that we have said would be the case if the IWM and S&P 500 can break above (...
Bear Market Rally With Potential for More In last week's Compass (May 24) we noted the S&P 500 was testing support at 3800-3860 within its downtrend channel and that we were on watch for a potential bear market rally/oversold bounce. This has officially begun following the break above 4030 on the S&P 500, which was confirmed by bullish reversals on the Russell 2000 (IWM), Nasdaq 100 (QQQ), DAX, Hang Seng, MSCI China (MCHI), and China Internet (KWEB). For now, we are treating this as a bear mark...
PRECISION DRILLING (CA), a company active in the Oil Equipment & Services industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 3 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date February 8, 2022, the closing price was CAD 56.35 and its expected value was e...
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