Price volatility returned to the stock market as investors varied in reaction to the usual suspects: Fed comments, corporate earnings reports and employment and inflation data.
When all was said and done the major indexes and most stocks suffered some degree of slump in price. Generally an unremarkable week, just one of those occasional “give back” weeks for us.
However, analytics indicate institutional investors continuing to hold their stocks, not sell, so we do too, much like they held through December’s slump after which prices did recover. Very few trades this week as a result of mild price movements.
For what it’s worth, the historic “Super Bowl Market Indicator” suggests a positive annual return for stocks if the NFC team wins, and a negative annual return for 2023 if the AFC team wins. Doesn’t really matter with us – our guide for trading remains the behavior of institutional investors, a far more reliable measure than an entirely uncorrelated gimmick. So, cheer on the team of your choice and enjoy the game!
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