Stuck in a Range
Guys, if we look at the chart of the S&P 500, we see it chopping sideways for about three months now. Since November, we’ve been trading between roughly 6,700 and 7,000 points, moving up and down, but essentially stuck within that range.
The market is waiting. There are many questions to which Wall Street doesn’t have answers yet: What will the next Fed Chair, Kevin Warsh, do starting in May? What’s next for AI? Which companies will be disrupted, and which business models will prove to be truly robust? And what about the Iran conflict?
Markets don’t like uncertainty. In fact, in my opinion we’re lucky that we haven’t seen a bigger sell-off so far. Investors still have hope, for now they’re mostly holding their ground and waiting. But how long until patience runs out and FUD fully takes over? That’s just another question we don’t know the answer to.
Keep calm and hodl, guys. Long term, the trend is up only.
