This is the final ‘Closing Bell’ video for 2022, and I have to say that I am looking forward to waving the year goodbye. It was a tough time for investors.
The ASX 200 may have performed a lot better than other markets around the world, but any investor in the smaller end of the market will tell you that it’s been a bloodbath.
I hope my market updates throughout the year have been useful to you and that you’ve learnt a thing or two about how I approach technical analysis.
Many people think it’s a bunch of hocus pocus, but I think my record throughout the year has proven that it can come in extremely handy in wild markets.
I have warned you about the possibility of market sell-offs on multiple occasions throughout the year, with my most recent warning happening over the last month as the bear market rally lurched towards its peak.
US markets sold off aggressively on Thursday due to stronger-than-expected GDP numbers. Investors are waking up to the fact that rates may need to go higher for longer than they expect.
The technical setup is quite bearish, as I have been showing you for the last few weeks. There is a chance volatility could be exacerbated by the lack of liquidity over Christmas, so we all need to hold our breath over the next few weeks and hope it doesn’t collapse while we are drinking beers by the pool.
If you have been heeding my warnings, you should be feeling ready for whatever is coming over the next few months and excited about the big opportunities that will be available next year if we do see a final capitulation event as economies keel over into a recession.
But that is a story for another day. Right now, you should turn off your screen (after watching the ‘Closing Bell’ video, of course) and forget about the markets for a few weeks.
Merry Christmas, and see you next year,
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Murray Dawes,
Editor, Money Weekend
