Momentum Wednesday (in lieu of Monday) 28 December 2022

Welcome to this shortened trading week and to Momentum Wednesday (in lieu on Monday). Markets will also be closed next Monday as well so we too will alter the timing of this report to suit.
And just to start us on a positive footing, we at Stockopedia hope that you will all have a prosperous New Year, both in wealth and good health!!! _______________
Anecdotally it is tough to generate any clear direction at this time of year... however it can definitely play a role in maintaining the continuation of a trend.
Therefore before we commence this week’s analysis, we caution reading too much into any signals provided at this time.
But of course, investors still need to respect the broader narrative and trade accordingly. (Otherwise why bother writing this week’s edition?)

Samp;P500

The Samp;P500 had its third negative week in a row. Further entrenching it within the down channel that has formed from the peak a little under 12 months ago now.

Samp;P500 Weekly Chart2022 will likely be recorded as a down year for the Samp;P500, its first since 2018. The good news, barring disaster, is that it won’t be...