Carlsquare weekly market letter: Bull trap in the making?

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Carlsquare Weekly Letter 19 Oct 2022

Carlsquare Weekly Letter

• The Q3 report season has started weakly in the US, a warning sign. But expectations and whisper numbers may have been even lower. The only way to trade the market is to look at the moves and not too much on the news screen. Have the mindset that someone may always try to manipulate you! From a technical perspective, the market is retracing from a strong support level. With the reports from the IT companies ahead, we have a classic setup for a Bull market trap!
• Look out for technical support and resistance on S&P 500 and more and more volatility in the market. We may have a technical rebound, but the overall trend is still negative. But lower stock market prices are also improving the fundamentals – so stay tuned!

Below are the forward Prices/Earnings for some of the leading global stock market indices.

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