Animal Spirits: A Lightning-Fast Correction

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First time in over 20 years that the Nasdaq was up 1%+ intraday and finished down more than 1% on back to back days.
— Bespoke (@bespokeinvest) January 20, 2022

The SPX Tech sector closed below its 200-day MA today. While not unusual, the pace of the descent is noteworthy.

The sector cycled from > 15% above the avg to below the avg in < 15 days.

That's occurred six other times since 1927, with the last instance triggering in May 2000
— Dean Christians, CMT (@DeanChristians) January 22, 2022

We might be entering a bear market, but it won't be anything like the 2018 crypto winter.

In fact, we've arguably been in a bear market for the last 6 months.

Some thoughts 👇
— Mippo 🟪 (@MikeIppolito_) January 23, 2022

I asked Wharton students what they thought the average American worker makes per year and 25% of them thought it was over six figures. One of them thought it was $800k. Really not sure what to make of this (The real number is $45k)
— Nina Strohminger (2023) (@NinaStrohminger) January 20, 2022

still super loose, but Goldman's financial conditions index has started to tighten pic.twitter.com/dzgogadgxU
— Katie Greifeld (@kgreifeld) January 25, 2022

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Animal Spirits: A Lightning-Fast Correction

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BEN CARLSON, CFA

Get Some Common Sense

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BEN CARLSON, CFA

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