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Payne's Perspective: May 16, 2022: Sadness

By Charles Payne CEO & Principal Analyst

It was another brutal week, with glimmers of hope heading into the weekend. Consumer Staples (XLP) eked out a gain for the week. Meanwhile, heavy damage to the two most important stocks in the market weighed down Technology (XLK) and Communication Services (XLC).

The late bounce was impressive, although not unusual for a bear market that has lashed heavy waves of selling upon the market.

With the S&P 500 down for six consecutive weeks, we look at history as a guide. What stands out is most times, the market staged solid rebounds, but 2008 and 2000 stood out for the continued carnage.

To read the full report contact your account executive or email Research@wstreet.com. 

Charles Payne
Wall Street Strategies


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