Hiring Freezes--A Sign of Slow Down?

(7/19/22) Stocks were poised to break above the downtrend, but Apple's announcement to freeze hiring killed market momentum. Hiring freezes are the first step before layoffs--because the economy is slowing down. Futures are higher this morning, suggesting markets will again try to challenge the downward trend that's been in place since March. We're not in the mood for a lot of risk at this time; we're going to use whatever rally we get to rebalance portfolios. The existence of so much bearishness leads to the ability to have a stronger counter-trend rally. A break above the trends line will set up for new highs; but a break below the trendline will establish new lows, requiring a reassessment of positioning.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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