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Afternoon Note

Tide Turning In Ukraine

By Charles Payne, CEO & Principal Analyst
3/23/2022 1:50 PM

The market continues to meander, although the NASDAQ peeked into the green a couple of times.  Lots of uncertainty abounds, as President Biden heads to Europe. Reports say he will once again try to convince Europe to sanction Russian energy.  It's really hypocritical considering the administration's war on domestic oil drilling. 

By the way inventories declined again.

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The good news is the tide seems to be turning in Ukraine, which could bring peace sooner or later; although, a cornered Putin is dangerous to the world. 

If this market rallies into the close again, I will be knocked off my feet.  At this point, we would expect some baking and filling and a test of former resistance points to new support points.

Overall, I'm pumped and cautiously optimistic.

 


 

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