Dow Jones Futures: What To Do As Bear Market Intensifies; Bitcoin Breaks Below Key Level

Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. The Bitcoin price undercut $20,000 on Saturday, as the “crypto winter” continues to get worse.




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The bear market intensified this past week, amid growing concerns that the Federal Reserve will be forced to drive the economy into a recession in order to rein in inflation.

With the major indexes plunging toward their pre-Covid peaks, investors should be on the sidelines. Don’t get excited by one-day rebounds, such as Friday’s tech-led advance. Instead, prepare to take advantage of the next sustained uptrend.

Not many stocks are holding up, but here are five that are doing a reasonable job: Tesla (TSLA) rival BYD (BYDDF), Vertex Pharmaceuticals (VRTX), fertilizer and lithium play SQM (SQM), Eli Lilly (LLY) and Enphase Energy (ENPH).

All have relative strength lines at or near highs. The RS line, the blue line in the charts provided, tracks a stock’s performance vs. the S&P 500 index.

BYD stock is near a traditional buy point. SQM stock is finding support at its 50-day line after round-tripping big gains. ENPH stock regained that key level on Friday. Vertex stock and Eli Lilly…

Read more at www.investors.com

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