Prepping for investing success in 2023 with JC Parets and Jay Woods: YF Uncut
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Prepping for investing success in 2023 with JC Parets and Jay Woods
Prepping for investing success in 2023 with JC Parets and Jay Woods: YF Uncut
Yahoo Finance’s Jared Blikre is joined by DriveWealth Chief Market Strategist, Jay Woods, and Chief Market Strategist at AllStarCharts.com, JC Parets, as they discuss the stock market.
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Prepping for investing success in 2023 with JC Parets and Jay Woods: YF Uncut50:51
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Prepping for investing success in 2023 with JC Parets and Jay Woods: YF Uncut
Yahoo Finance’s Jared Blikre is joined by DriveWealth Chief Market Strategist, Jay Woods, and Chief Market Strategist at AllStarCharts.com, JC Parets, as they discuss the stock market.
Video Transcript
[MUSIC PLAYING]
JARED BLIKRE: Welcome to another episode of "Yahoo Finance Uncut." I am your host, Jared Blikre. And today, I have two very special guests. Jay Woods, he's the Chief Market Strategist at DriveWealth, and he's sitting down at the New York Stock Exchange. Also have with us JC Parets, Chief Market Strategist at AllStarCharts.com, also a dad of twins. And southpaw pitchers here. We're going to talk about that in a little bit.
But first, we're going to begin with the market action. At "Yahoo Finance Uncut," this is a taped presentation. We don't focus on the day of headlines. We're trying to give you a big picture overview of what's happening in the market. And recently, we had in the S&P 500, we had this rally above the 200-day moving average. Everybody on Twitter has been talking about it. Then we closed below, maybe a false breakout.
And also, JC, this is another debate that we've been having on Twitter, the bull market. Bull market versus bear market, different definitions out there. I don't know how important it is. But the Dow last week, a week ago, somehow made it into bull market territory, according to some people. And I know you always are pretty outspoken when it comes to these things. So I'll just give you the floor here.
JC PARETS: Well, yeah, you're alluding to the misconception that a 20% rally off the lows in a particular index, whether it be the S&P 500 or the Dow or the NASDAQ or whatever religion you subscribe to, but the 20% level is nothing magical. There's nothing more-- the 20% is not more important than 19.9% or 20.1% or 23% or 17%. You know, to think it is is a little bit silly, also. It's used as a guideline in a lot of ways. Great. But does it actually mean anything? Does it actually determine what the market is going to do next? Like, no, absolutely not. So we find it hilarious.
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