The View from 5th Avenue

The View from 5th AvenueBy Ryan Maguire

The View from 5th Avenue – 3 May 2022

Today’s choppy trading wasn’t the typical pre-FOMC “wait and see” action, but relative to the stomach churning swings of late the S&P’s 1.3% intraday range almost (again, that’s almost ) felt like a bit of a reprieve. Of course US indices’ gains appear embarrassingly modest in light of the recent damage that’s been done, but after a late pullback from the abyss yesterday, the back-to-back positive sessions at least suggest that investors have gotten a little more comfortable in their positioning ahead of Powell’s presser.

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).