Market Has Strong Rally Despite Tech Earnings, Apple Holds The Line Array ( [cookie] => 596a25-805399-724db3-06fc84-1cfaa6 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 0 [subscriber] => 0 [role] => [visitor_id] => 208285 [user_id] => [reason] => [method] => ) 1 and can accesss

Markets had their fourth consecutive weekly gain and showed stunning resilience in the face of headwinds. Markets rallied very strongly and closed at the highs of the day and the VIX went to the 25 handle. The Dow is on track for its strongest monthly performance since Gerald Ford’s presidency. The great debate on the Street is whether this is yet another bear market rally or the beginning of a change in the pervasive volatility and chop that have defined 2022 so far. Our Head of Research, Tom Lee, has pointed out that the stock market can rally quite a bit from here and still not run afoul of the wealth effect the Fed is trying to achieve. Stock picking is still working, and earnings are paying, or hurting, this season more than they have in recent quarters. Our Head of Quantitative Strategy, Adam Gould, has a retail sentiment indicator based on Reddit that has flipped negative, suggesting this rally could have some room to run.