Yahoo Finance’s Jared Blikre sits down with Founder of AlphaTrends.net, Brian Shannon, as they discuss financial markets, trading, risk management, and stocks.
JARED BLIKRE: Welcome to Yahoo Finance Uncut. I am your host, Jared Blikre. And I am sitting here with Brian Shannon. He is the founder of alphatrends.net. He has been alongside me many times in our studio and also on a remote basis over the years at Yahoo Finance. Great to see you here today, Brian.
And I should give a note to my viewers. This is taped, and we're going to play this over a couple of weeks. But yesterday was a huge down day in the market. That's when we had the NASDAQ down 5%, and we want to talk about that because, Brian, we've seen these moves before seemingly coming out of nowhere. But they come out of somewhere. We know this. Inflation being top of mind for investors, of course, we focus while you focus mainly on technicals. Just what's your 30,000 foot view of the market right now?
BRIAN SHANNON: Well, you know, 2022, has been marked by a lot of volatility. But when you look at the sum of the rallies versus the sum of the declines, the sum of the declines has been greater. That's called a downtrend. And that's why we're down about 17% year to date. Now like you said, yesterday, we were down, I think, over 4% in the NASDAQ. And the thing is it kind of came out of the blue in that we had a little bit of strength leading up to it the prior couple of days.