Learn more about where stocks are sitting within the trading range by reading DeWayne Hall’s Weekly Market Update for March 10, 2023.

Weekly Market Update for March 10, 2023, from DeWayne Hall: Trading Range

After trading on the short side in February to some modest success, this week we attempted to switch directions and dip a pinkie toe in the water on the long side. Yes, we know we’ve been beating the drum that stocks are still headed lower this year. And yes, we still believe it. But when the charts say to dip a toe on the long side of the pool, even for the very short term, we give it a quick dip.

Thank goodness we only dipped a pinkie toe.

After a strong start to the year, the stock market has gone nowhere fast in the past two months. Other than a few technology names, most stocks are stuck in a trading range, and flirting with the lower end of that trading range. Opportunities presented on the long side are quickly quashed. A beautiful chart in the morning can look beastly by early afternoon. 

And the numbers the Labor Department has made up the past two months are forcing the Fed to keep its foot on the interest rate accelerator, which should continue to be a headwind for stocks as we move through the middle part of the year.

So, until things dramatically change, if we dip any toes back in the water, it will probably be on the short side of the pool. Otherwise, we’re happy to stay dry for now. 

If you would like to know more about our approach to investing, feel free to email me at dewayne@g-las.com. 


The views expressed represent the opinion of Good Life Asset Strategies, LLC. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness.