Was October the market bottom?

That is the question on most investors' if not all investors' mind. We are a year into this bear market and avid investors will know that bear markets last roughly a year. So if statistics bear correct and we are not in an outlier, we are about at the end of this bear market. So October sounds about right. However, it is one thing to guess and another thing to plan. 

My strategy is always to figure out all possibleroadmaps and let price actions guide. Charts always sniff out economic rumblings and lead macroeconomics and data. That is why it is my go to for managing risks and allocations. Price action is encouraging after Powell's speech. However it has not confirmed anything as one up day does not mean much especially whentrend lines are still intact.

The SMH index and semis were looking at an incomplete wave 1 pattern and now seems to be completing it with a wave 5 push on lower volume and momentum which is textbook wave 5. Other sectors like financials and transports also look to have completed their wave 5s to complete the big wave 1 and everything sems to be hinting at a wave 2 retreat coming up. 

So if you ask for my honest opinion, I am leaning towards October being the market bottom.However, there seems to be good possibility of a market retreat in the near term. The wave 2 retreat is where I will look to load up on names such as $NVIDIA Corp(NVDA)$ $AMD(AMD)$ $Apple(AAPL)$ $Taiwan Semiconductor Manufacturing(TSM)$  or even $Tesla Motors(TSLA)$ . If this retreat holds the necessary levels to qualify as a wave 2, then the charts will look pretty bullish and if a wave 3 rally takes off and clears the wave 1 high, that strongly suggests that October was the market bottom. That is probably a good time to rejoice. 

Thanks for reading!

# US Market Hit the Bottom After Powell Speech?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • Dalang
    ·2022-12-04

    Strong 

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  • Bodoh
    ·2022-12-03
    Wishful thinking
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  • TeoPC
    ·2022-12-06
    ok
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  • Chongwei168
    ·2022-12-05
    👍
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    ·2022-12-04
    👍
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    ·2022-12-04
    noted
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    ·2022-12-04
    ok
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    ·2022-12-03
    Ok
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  • tiger cub
    ·2022-12-03
    k
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  • 许哲东
    ·2022-12-03
    no yet
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  • HuatKueh
    ·2022-12-03
    Thanks
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    ·2022-12-03
    ok
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    ·2022-12-03
    Ok
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  • 向北前行
    ·2022-12-03
    888888888
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  • Angcle
    ·2022-12-03
    Wah
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  • Mistake96
    ·2022-12-03
    [贱笑]
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  • darrius
    ·2022-12-03
    twow
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  • Joel Santos
    ·2022-12-03
    [Like]
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  • xiaochoochoo
    ·2022-12-03
    will
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  • 0QH
    ·2022-12-03
    ok
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