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Anyone know why? The rest of the market is up.

Yesterday looked like it wanted to breach 90p for good. It was good to see a material move for once, however it will be interesting to see how the SP moves once the buybacks end.

I'm still waiting on the price of Rhodium to move to 24k as forecast.

Fintech my arse. Its a financial services firm offering sub prime loans.

Overbought*

This is becoming oversold in the 1m, 3m and 6m chart. Hopefully it can maintain momentum and stay about 50 on the RSI and above 0 on the MACD.

It was a good day yesterday. Hopefully the bottom was just below 800 and we can aim for over 900 next week.

4p is a possibility

Any links? Sounds far fetched during a war tbh

As far as I know banks don't use focus groups to conduct research. Banks use economic indicators like credit card spending, household debt to GDP and non-farm payrolls to understand how consumers are spending their money.

Regarding boo, the whole street will downgrade the majority of companies before Q2 earnings are released. JP noted why they downgraded boo, 15 profit warnings across this sector in only a couple of months, this fundamental data shows there is no need to conduct focus group research to downgrade a stock.

Who was the guy who said this would only be suspended for a week?

From a technical perspective the company was oversold on the RSI on the 1y chart. It still is oversold on the 5y chart. The 3m and 6m charts are looking healthier now.

Why Brexit? It's been 6 years and unemployment has remained low. You could even argue that as we control our immigration policy and as more Eastern Europeans go back home this has been the cause of low unemployment and wage inflation.

T4G, true that interest rates will be at historically low levels after these rate hikes. However, unemployment will have to increase to help dampen inflation as increasing interest rates won't be enough alone.

Once the fed are able to control inflation (Sept by my estimates after a few more 75bps incresses) then I suspect the conditions for a bull run are in place.

Giantsquid, keep up the analysis and commentary. It's rare to find someone talking about the real issues with substance on here. Especially whilst everyone insists of throwing mud here.

I, like many, have great admiration for JP Morgan. There are a lot of smart people work there. But to believe the Russia Ukraine war will end by year end is delusional at best and furthermore, to believe the US will avoid a recession when in Q1 they declined 1.5% and its getting worse, is nothing short of irrational. JP Morgan has access to data that only a few top banks have yet this analyst is stating something contrary to what Jamie Dimon, JP Morgan CEO, is talking about.

Giantsquid, thanks for the analysis.

The first decline, which took us into bear territory, was due to rising inflation and the realisation of increasing interest rates in the US, UK and Europe. If you look at volumes though the decline fell on relatively little volume which doesn't bode well if more investors decide to sell up.

The second wave of declines will be due to earning downgrades. Q2 earnings will be out in July and continue into early August which means SP declines will continue until late August.

If inflation is to peak in Sept then we can expect the Fed to increase interest rates by 75bps in July, 75bps in Aug and probably 50bps Sept. Once the fed has control on inflation then I expect the bottom is near. PE ratios will also have bottomed out at that point and will start the bull market.

EmeraldCarrots, what signals are you seeing to indicate "smart money" are starting to re-enter the stock market and specifically Dunelm.

What are you defining as smart money? Who are they?

From volumes, the overall market still is pretty low, thus, there is plenty of downside still to come in the main indices. From a Dunelm perspective, the fundamentals are good but could easily be caught up in any downturn.

Cardinal, do you think this has more chance of hitting 14p than it does 4p?

Care to elaborate?

Ocado holding up well in this market. Had a good rise from 700 to 900 when the rest were falling.