In social media terms – growth stocks went from getting all the likes to being un-friended real quick. So, when it comes to growth stocks – what are we watching?
The recent sell-off in growth stocks continued last week, as did the move higher in Nasdaq volatility. One of the reasons behind the sell-off is the recent strength of the U.S. dollar.
A rising dollar is one thing the Fed does not want because that will tighten financial conditions and it’s one reason that the Fed wants to get inflation expectations higher because that should result in a weaker dollar.
For the week ahead, there is just so much going on. Here’s watch to watch – The VIX, we don’t want it going above 30. Nasdaq VIX, we don’t want it going above 40. The Dollar, it’s currently in the upper middle of its range, we don’t want it to break out of this range to the upside. The Nasdaq – 10,800 is a key level. We want the Nasdaq to close above this level. If these all go the wrong way, it could be a bumpy ride for stocks and if so, being mentality prepared is half the battle and we’ll be here to continue to update and walk you through.
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