04.02.2022 – The bulls lack strength: After a few days of gains, a sharp setback follows. High-tech stocks in particular have been hit hard. From a chart point of view, something has to happen now, otherwise prices will plunge into the abyss. Especially if something completely unexpected happens. We have an idea.
Chaos on the labour market numbers
What a bloodbath for tech stocks: Facebook parent Meta lost around 250 billion dollars market cap in the meantime. After the market closed, however, Amazon presented figures that were enthusiastically received. This is exactly what the market has a problem with, believes Charlie McElligott: first, all stop marks were torn as the sell-off spread to the broad market. Then Amazon reversed the trend. Which leaves everyone to reposition themselves. We add: The Nasdaq Composite has moved back south away from the 200-day line. A new potential hammer is due today in the form of the US jobs figures. We’ll know more after 2.30pm on the short-term outlook.
Threat of trucker revolt
In the medium term, the anger of US truckers could soon land a veritable black swan on the trading floor. The mainstream media, of course, dismiss the big demonstration in Ottawa that sent posh Canadian Prime Minister Justin Trudeau running for the hills as an outrageous uprising by a stupid, uninoculated fringe group. Can be ignored. Only one paper is breaking from the green-left mainstream: “The Hill” predicts a similar show of force in Washington D.C. in the coming weeks, as well as a veritable tightening of the supply situation. Which brings us to the subject of inflation – which will have consequences for the stock market.
“The Hill, like us, sees a deeper problem with the protests: “People are also tired of being told not to question the authorities. They are fed up with officials who say immodestly that they represent science even as many of their pronouncements turn out to be worthless.” Especially since a study by Johns Hopkins University just proved the uselessness of the lockdowns – only destroyed livelihoods, of course not in the fine circles. Unfortunately, the cultural chic doesn’t understand the seriousness of the situation: Facebook has just locked down a trucker group with 130,000 members. The arrogant censorship is likely to further fuel the anger.
Author Liz Peek predicts: “The trucker rally will draw support from people who are angry that governments have shown indifference to the plight of restauranteurs, hairdressers and countless other small business owners whose livelihoods were callously destroyed by officious bureaucrats. People who are angry that their children have lost immeasurable learning because schools were closed and have suffered emotional impairment as they wear pointless masks day in and day out. They are angry at the stupidity of it all.”
We add: Who says that angry truckers in Europe don’t revolt against the arbitrariness of politics and bring everything to a standstill for a moment? A single transverse truck brings a motorway to a standstill for hours. Perhaps you have noticed, outside of published opinion, how anger has boiled up since politicians loosely shortened the convalescent status from six to three months, while the Bundestag continues to indulge itself with half the year. “All animals are equal, but some are more equal” – George Orwell would have seen his sceptical predictions confirmed not only because of this statement from “Animal Farm”. And what anger has built up in the meantime because politicians believe they can undermine the fundamental right and cap the freedom to demonstrate. Therefore our advice: Keep an eye on the real-time news. Bernstein Bank also keeps an eye on the issue for you!
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