Transcript:
Tom Vaughan:
Everybody, welcome to Monday, the S&P 500 was up 1.9% Today turned out to be a really good green shirt day, this rally started essentially on Friday, middle of the day, we hit a low point and then rallied all the way back up to positive on the S&P 500. If you look at what happened today, we just kind of continued along that same path, and ended up with a really good day. So ongoing, we’re going to have to see, you know, is this a reversal of trend, or just a short to, you know, jump in there in the opposite direction. And that’ll have a lot to do with what’s going to happen here over the next five or six days to see how this might play out. But the big catalysts that I see is that on that Friday point, when it turned around, you know, the stretch measures that we use, looking to the downside there, it was really oversold. And it really just allowed itself to then be you know, pushed back up by the buyers, because the sellers have kind of exhausted themselves for the most part. And so you know, again, we’ll see how this plays out to the sellers come back in, you know, when the market comes back up again and drive it back down to we get some bad news that creates that.
So to get some good news today talking about lowering the China tariffs which might help with inflation, and talking really about what’s happening with China’s closed loops that they’re using, where they have people living, you know, on the porch or living in the factory, and they don’t aren’t exposed to others with the virus, but they’re still able to, you know, keep the porch running, keep the factory running, I that might be a surprise to the upside to the market, because the expectation was that we would have a pretty significant drop off and supply chain issues from China. And maybe it won’t be as bad as everybody thought. But with these closed loops in place, so we’ll see how that plays out. Inflation is going to be the battle. Obviously, they’re not going to be able to fight inflation just by raising interest rates. We have to get the supply side working the ships, the ports, the tracking the railroads, you know, that all the different things that we could possibly do to get more food on the shelves, globally, actually, gas and oil and offsetting, you know, what’s going to happen with Russia I think are going to be really important components to help out so the Federal Reserve doesn’t have to basically kill the economy trying to bring inflation back under control. So anyway, look forward to see what’s gonna happen tomorrow. Wouldn’t be surprised to see a little downward movement or a little sideways movement just because we’ve had such a good run from middle of Friday to today. And but love to see some continuation at some point during this week to the upside. So we’ll see how this plays out. Should be interesting. I look forward to talking to you tomorrow. Thank you