Submitted by Obvious-Expert-007 t3_ytqis2 in wallstreetbets
There was absolutely no clear reason for a back-to-back rally on Thursday and Friday. And those rallies in the Nasdaq were impressive. Something is fishy here.
We have SO MANY unresolved problems. Interest rates are going higher. Inflation is still present and strong. Cost of living is forcing many people to hold off on spending. We have the war in Ukraine...we have China not getting along with the US...we have serious political unrest here in the USA...
Small shareholders have lost more than 80% of their value since 2022 began. The housing market has taken a hit, causing many owners to lose hundreds of thousands in equity. With banks now offering 3%+ in CDs, it's obvious that money is in demand! Most people are still scared of a recession...which will most like turn into a GREATER Depression. Cash is king...and people are hoarding it...not investing.
I think Monday will be bad for markets. If not, Monday, will be the calm before the storm. I foresee all of last week's gains to be erased. Do you agree or do you see this rally having legs?