Things aren’t as bad as people were afraid of
Things aren’t as bad as people were afraid of: Sevens Report Editor, Tom Essaye, Quoted in Barron’s
S&P 500 Holds Above Its 50-Day Moving Average
“The bottom line is that things aren’t as bad as people were afraid of about 10 days ago, and now the market is rallying, now it’s making some technical progress getting back above the 50, and that’s just going to create more chasing, more fear of missing out,” Essaye says. “And I think that’s really what’s helping the market these last couple of days.”
“Until something happens to kind of break this little conversation that investors are having with each other where they’re convincing themselves of these things, the market can rally,” Essaye says. “And there’s not a ton on the calendar this week to break that idea.”
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