Buying Binge

Please click here for a chart of  S&P 500 ETF () which represents the benchmark stock market index S&P 500 ().

Note the following:

  • The chart shows the stock market is hovering near the channel low band.
  • The chart shows that the market is no longer overbought.
  • Investors need to pay attention to consumer behavior because the U. S. economy is 70% consumer-based.
  • The consumer buying binge continues for the time being even though consumers have a lot of apprehensions about inflation.