Casey Badach

The View from 5th AvenueBy Casey Badach

The View from 5th Avenue – 16 May 2022

The Nasdaq’s down -1.2% final today may incite a bit of PTSD from the past few weeks of losses. But despite the weakness, there was a real lack of conviction that left investors feeling unsettled. Pre-open, some were still trying to determine whether Friday’s relief rally was the start of something real or barely a blip. For perspective, CCMP’s (+3.8%) best day since 2020 left it -2.8% for last week, which marked 6 consecutive weekly losses of more than -1% (first time since 2001).

The View from 5th AvenueBy Casey Badach

The View from 5th Avenue – 11 May 2022

The word “dominoes” was mentioned in conversation today and it was not in reference to that of the cheesy crust (ahem, the pizza we can no longer afford).The reference was in regard to market signals – as in, dominoes falling. Today’s moves led us back to ‘Extreme Fear’…21/100, the VXN (NDX Volatility Index) above 40, Bitcoin nearing 29kn, AUDUSD < 0.70 and all 5 FAANG stocks in a bear market (MSFT broke $263 with next support 10% lower). Dominoes. Falling.

The View from 5th AvenueBy Casey Badach

The View from 5th Avenue – 2 May 2022

Investors started this morning with hope for a new month and a fresh start—a bit of reprieve from March and April’s painful collision of negative sentiment and absurd valuations. And while the major indices ultimately found their way into positive territory by the closing bell, today’s choppy, unpredictable action only seemed to exacerbate the bearish dynamic (especially after Macro Man warned investors to be wary of the sinister bear market rally).