The first five months of 2022 have been characterized by high volatility and expansive trading swings due to investors’ reactions to headline news and technical movements. 

A few observations as we begin the summer session on Wall Street. I think that the major market indices have established a bottom… 

Another solid showing for stocks yesterday, and one that might be shifting the onus on the bears rather than on the bulls. 

I think we might see a more consistent and reliable rebound than we’ve seen year to date, but certainly with some bumps along the way. 

In my estimation the DJIA may be close to completing a formidable bottom and one that launches a rally. 

The VIX is clearly in a pennant formation, with well-defined trend lines indicating ascending lows and descending peaks. 

Last Friday’s session seemed to be one of those grueling selloffs going into the weekend, but buying came in before the close and the major market indices finished little changed. 

Gene Peroni’s Daily Podcast: There are so many different commentaries right now, and they’re all valid comments, but from a technical standpoint, I think what we’re starting to see is a tug of war between the bears and the bulls…