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Afternoon Note

Downtrend Intact

By Charles Payne, CEO & Principal Analyst
12/7/2022 1:35 PM

After a couple of rough sessions, the market is mostly marking time.  There are a couple of known knowns.

The downtrend is firmly intact. Key potential breakout points fail and spark big emotional selling.

The relationship between the ten-year yield and the tech sector is remarkable and maybe oversimplified.  But it's clear that in the past year higher yields equal lower tech stocks. Periodically, yield dips trigger tech bounces. With that in mind, at some point, lower yields will positively influence tech.  But there are wrinkles, including Fed policy. 

I need to see a session like this close in a rally - not coming off a super depressed rout, but climb into the plus column, and finish at the high point of the session 

Charles, bet you know this one to get us thru these times
Have faith, hope and charity
That's the way to live successfully
How do I know, the Bible tells me so

fred wiese on 12/7/2022 2:04:17 PM

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