Navigating the Bear Market: Steve Reitmeister’s Updated Market Outlook
The bear market has been an ongoing debate for the past few weeks and investors are trying to figure out the top indicators to look out for. If the market correction holds, bulls will remain in control and the “bear market” will be canceled. This will be a critical moment as the market is currently at a crossroads between bullish technical improvements and bearish fundamentals.
To determine whether the breakout is sustainable, there must be a pullback to the previous downtrend line that holds. This will have multiple effects, such as working off the overbought conditions, turning previous resistance into support, and reloading market shorts to support a move higher. The final piece of the puzzle will be a break above the highs of this past week, confirming the next leg higher and placing 4300-4400 as a target.
However, if the market correction violates all of the supports, this will suggest the “bear market” remains intact and the rally from the October lows was another “head fake.” The last part is the most critical as everyone expects the Fed to cut and politicians to panic via stimulus checks, rebates, and debt forgiveness. Unfortunately, due to a deeply divided Congress, the inflation experience of the last endeavor, and no financial stress, such is unlikely to happen.
This week, Steve Reitmeister shared a brand-new live presentation to investors at the MoneyShow’s Online Expo that reveals his updated latest market outlook and trading plan. It is highly recommended to watch before placing any trades as it reveals the reasons for the bear market and the game plan to not just survive, but thrive in the days and weeks ahead.
0. “Bullish Signals. Bearish Outlooks. – RIA” Real Investment Advice, 11 Feb. 2023, https://realinvestmentadvice.com/bullish-signals-bearish-outlooks/
1. “The Correction May Have Started, Will Bulls Remain In Control?” Real Investment Advice, 14 Feb. 2023, https://realinvestmentadvice.com/the-correction-has-started-but-will-the-bulls-remain-in-control
2. “Here's what needs to happen for one of Wall Street's biggest bears to flip bullish and be won over by the stock market” Yahoo Canada Finance, 12 Feb. 2023, https://ca.finance.yahoo.com/news/heres-needs-happen-one-wall-134500507.html
3. “Updated: Bear Market Game Plan” Entrepreneur, 11 Feb. 2023, https://www.entrepreneur.com/finance/updated-bear-market-game-plan/444844
4. “SPY: Updated: Bear Market Game Plan” StockNews.com, 11 Feb. 2023, https://stocknews.com/news/spy-inx-dia-iwm-qqq-updated-bear-market-game-plan-43881498/
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