V2 Model December 17, 2022 CHANGE

All I Want For X-Mas Is A Recession!

December 17, 2022

Recap

Another wild week in the markets as FED chair Powell reiterated his stance of "we will not make the same mistakes as the 1970s". Essentially signaling higher interest rates for a longer time period and a greater chance of recession. In brief, the S&P 500 declined 5.0% from where it was just ahead of the FOMC decision on Wednesday to its closing level on Friday. 

Ten of the 11 S&P 500 sectors lost ground this week. The heavily weighted information technology (-2.7%) and consumer discretionary (-3.6%) sectors were among the more notable laggards. Meanwhile, the energy sector (+1.7%) was alone in the green by Friday's close. 

V2 was up this week and increased its lead over the SP500. We will make a change during Monday's session.

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