Slow (e)Motion(al) Break Down

It’s hard to call the February capitulation a full ‘breakdown.’ The S&P 500 pulled back to its 200 and 50 day averages. That's pretty reasonable. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ March 1, 2023 |  [View Online](jointhesessions.com) |  [Sign Up]( Slow (e)Motion(al) Break Down “Don't you know promises were never meant to keep? Just like the night, they dissolve off in sleep ...“ – The Rolling Stones February was a month of heartbreak and hangover. [March may prove to be more sobering.]( “It looks like we had a false breakout to 4,200 in the Standard & Poor 500 index,” writes our friend Sean Ring, looking at the charts through February 14, 2023. “We headed right back down after that. We’re stuck in the 3,800 to 4,100 range. A breakout either way next time should show us the way.” The “false breakout” happened in late January, 2023. (Source: StockCharts.com) Sean then ran through a litany of market sectors suffering from February's hangover. Have we crossed a critical tipping point? The definitive Mr. Ring believes there will be a breakout… but stopped short of declaring whether it would be to the upside or down. Hmn. “At the present moment,” our investment director Zach Scheidt agreed. “It really feels like we're in the ‘in between’ no man's land,” he wrote to our analysts this morning. “We were fearful at the end of last year and it made sense to buy quality stocks that were unfairly punished. Now that the market has rallied and people are willing to take more risk, we're not nearly as fearful as before. But I don't see exuberance or widespread froth.” POWERED BY TRADER MARKETING GROUP How The Ultra-Rich Pick Their Stocks There's one tool that can scan and pick the best stocks… and could give you all the consistency you need in your trading… No matter what happens in the market. Our Pro Trader will unveil the process used every day to select trades, improve entries and exits, and find better trades than ever before. [Click here to save your spot in our free live training.]( CONTINUED... That being said, Zach recommends we “chew our food for a bit before swallowing”: It’s hard to call the February capitulation a full ‘breakdown.’ The S&P 500 pulled back to its 200 and 50 day averages. That's pretty reasonable. Meanwhile speculative tech stocks have been much weaker. But this makes sense (and should happen). I still think a lot of these names (AI, cloud stocks, some of the old work-from-home plays) have much farther to drop. So it's a kind of bifurcated market. Opportunities in stocks that trade at reasonable valuations with reliable profits, and risk for speculative stocks that trade at high valuations (or have no earnings). For now, as we discussed in our live webinar last night, ([replay available here]( we’re on high alert. Was, as we have suggested, February 14, 2023, the tipping point triggering a “market crash in early 2023”? You know where I stand. What do you think? Send your thoughts, [here](feedback@wigginsessions.com). So it goes, Addison Wiggin The Wiggin Sessions P.S. In the meantime, while we wait for some confirmation of the market trend, listen to this peculiarity: For the first time since 2001, investors can make more money “holding cash” than a traditional stock-bond portfolio. Yesterday, the so-called 60/40 portfolio of US equities and fixed-income assets yielded 5.07%. At the same time, yield on the six-month US Treasury bill rose to a high of 5.16%. Short-term treasuries are considered “cash-like” holdings. You can thank the Fed for that… more is likely to come when they decide to continue raising rates later this month. POWERED BY DAILY MARKET ALERTS Will You Miss Out On This Growth Stock Boom? A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years. And this is just one of our [5 Best Growth Stocks To Own For 2023.]( The Daily Missive from The Wiggin Sessions is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Consilience, LLC. delivering daily email issues and advertisements. 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