the Low is Not in Yet

Weekend May 21, 2022

Never mind the chart the strength of the sell off means we have to have been in the throes of a powerful third wave. That suggests a fourth up and then final five down which could take to the end of the month.

Frost Bank

cullen  Frost went higher than I thought possible, welll we are going to get another chance. This is the best managed independent bank in Texas and makes money like it owned the Denver Mint. Support appears to be  107-10. PMO has not bottomed yet. Not it broke the  200 day MA so the final low may be even further down.

BRK

America's favorite stock is testing its 200 day MA, much like CFR let's watch closely.

Transports

 

Transports and small caps are leading the way down.  Note the incredible spike high last November.  TRAN is surely going to quicly test its 200 day MA, note the big drop this week.

NASD has already lost  one third of its value

NASD

PMO has not bottomed, see article in weekend WSJ on how eight stocks held this up for a year, but that years is over as is the bull trend.

30 year bond

/we have five waves down

and a small bounce, PMO not turning up yet but this is a weekly chart, let's move closer.

Daily T Bond

Bonds have been dropping with stocks, looks like some money is finally flowing into bonds as PMO is picking up.  TLT a fund of 20 year bonds is the same chart.