Bullish Sentiment Hits 30 Year Low- What Should You Do?

Bullish Sentiment Hits 30 Year Low- What Should You Do?

Fear and greed or anxiety in financial markets It was another tough week for the stock market as the earnings report from J. P. Morgan Chase (JPM) on Wednesday fell short. JPM missed on earnings as trading revenues were down and the stock closed down 5. 5% for the week. Other big banks reported sharply lower earnings "Citi saw a drop of 46%, Goldman Sachs fell 42%, Morgan Stanley MS dropped 11% and Wells Fargo WFC fell 21%". The weekly technical outlook for the SPDR S&P Bank ETF KBE (KBE) was negative as the week started so the action was not surprising. Analysts are expecting earnings growth of 5. 5% in Q1 and 4. 8% for Q2 of 2022. Not all earnings last week were disappointing as Delta Airlines (DAL) did better than they had expected at the start of the year as the stock closed up 15. 3%. Other airlines were also strong as US Global Jets ETF (JETS) gained 8% for the week. As my analysis last week indicated it was a tough week for growth as the Nasdaq 100 Index dropped another 4. 4% and is now down 14. 4% year-to-date (YTD). The S&P 500 held up