The first quarter of 2023 came to an end of Friday and it’s time to check in with the crash comparisons. Let’s take a look at SPY:
At the end of March 2023, SPY is only down 14.22 percent from all time high in 2021 but with the Fed raising interest rates again, it truly is a miracle the market hasn’t corrected but we think that will come by the end of this year.
Let’s take a look at QQQ:
The QQQ seems to be undergoing a remarkable recovery however we think the banking fiasco has forced investors to flee into tech heavy stocks but it’s anyone’s guess at what comes next for the QQQs.
And finally XHB:
XHB has shown gravity defying properties but gravity is a force too strong to let this ETF fly higher and we think it will start taking a beating by Q3 or Q4 of this year. With mortgage rates at 6.5 percent or higher and the banking fiasco causing lending standards to tighten and capital to become constrained, it’s only a matter of time. The fuse has been lit and it’s only a matter of time for the implosion so stay tuned, stay profitable and stay solvent…