And this is WITH all the manipulation to keep things propped up and the illusions puttering along…
The stock market indices that get all the headlines have failed to capture the brutal deterioration that has been occurring for months among the individual stock components of those indices.
In early February, Bank of America reported that 46 percent of Nasdaq’s component companies were more than 50 percent below their 52-week highs. And the deterioration in breadth began long before February.
On December 28, 2021, Wall Street On Parade ran this headline: A Tale of Two Markets: S&P 500 Notches Its 69th Record Close as the Bottom Falls Out of the Nasdaq. We noted in the article that “On December 3 there were 585 new 52-week lows on the Nasdaq stock market versus 12 new 52-week highs. To look at it another way, 48.75 times more stocks were setting new 52-week lows than were reaching new 52-week highs. That doesn’t sound like the definition of a bull market to us.”
Continue:
wallstreetonparade.com/2022/02/brutal-stock-deterioration-46-percent-of-nasdaq-stocks-are-more-than-50-percent-below-their-52-week-high/
Here’s what 7 rate hikes from the Fed may do to the stock market
About 46% of the Nasdaq’s members are down at least 50% from their 52-week highs, according to Charles Schwab chief investment strategist Liz Ann Sonders. Zooming out doesn’t paint a better picture. Roughly 76% of the Nasdaq’s members are down at least 20% from their 52-week highs.
finance.yahoo.com/news/heres-what-7-rate-hikes-from-the-fed-may-do-to-stock-market-172459170.html
BofA says the Fed is ‘desperately behind-the-curve’ in fighting inflation as markets brace for the possibility of an emergency rate hike this month
markets.businessinsider.com/news/bonds/fed-emergency-interest-rate-hike-behind-curve-inflation-powell-bofa-2022-2
IPOs Had a Record 2021. Now They Are Selling Off Like Crazy.
Threats of higher rates are driving down prices of high-growth stocks; two-thirds of 2021 IPOs now sit below their offer prices
www.wsj.com/articles/ipos-had-a-record-2021-now-they-are-selling-off-like-crazy-11640773806
More Than 1,000 Companies Went Public in 2021, But Returns Are Worst in a Decade
www.barrons.com/articles/companies-ipos-2021-returns-worst-decade-51640294878
Since the Fed Announced It Was “Tapering” Last November, It’s Actually Added $332 Billion in Liquidity with New Debt Security Purchases
If you’re wondering why inflation is running hotter than it has in 40 years and why St. Louis Fed President James Bullard has broken with protocol and is openly criticizing the Fed on television for falling behind the curve on inflation, here’s a key part of that story.
The Fed’s Federal Open Market Committee (FOMC) made its first announcement that it would begin “tapering” the amount of its purchases of Treasurys and Mortgage-Backed Securities (MBS) on November 3 of last year. On that date, according to the Fed’s own H.4.1 filing, it held $8.063 trillion in debt securities. As of last Wednesday, that figure had risen to $8.395 trillion or an increase (not decrease) of $332 billion in the span of just three months.
wallstreetonparade.com/2022/02/since-the-fed-announced-it-was-tapering-last-november-its-actually-added-332-billion-in-liquidity-with-new-debt-security-purchases/
h/t ST. FLOYD OF FENTANYL