There is one school of thought that we aren't in a recession yet
given the job numbers, earnings, and price action. I saw the 3
month hasn't crossed on the yield curve yet as well, another part
of the signal that is needed for confirmation.
Price and time currently indicate we never had a bear market and
that this is still a topping process. If that is the case, we could
test the old highs or even make new highs before things really come
down longer term. I know it sounds crazy, though 3,600s sounded
crazy at the beginning of the year to most as well.
Where we currently are is the last wave made a high at 4,168 on
SPX. And that is the high until it isn't. Markets are overbought,
so the bears need to get moving here now. There are 6 gaps below to
go after. Their showing has been pretty weak lately not even being
able to push SPX below the 9 day for a reversion to mean on the
longer term. Maybe the time is finally here to try.
There is one school of
US economy added 528,000 jobs in July BUT 309,000 were ...
Posted by fundamentalvalues on 6th of Aug 2022 at 07:43 am
There is one school of thought that we aren't in a recession yet given the job numbers, earnings, and price action. I saw the 3 month hasn't crossed on the yield curve yet as well, another part of the signal that is needed for confirmation.
Price and time currently indicate we never had a bear market and that this is still a topping process. If that is the case, we could test the old highs or even make new highs before things really come down longer term. I know it sounds crazy, though 3,600s sounded crazy at the beginning of the year to most as well.
Where we currently are is the last wave made a high at 4,168 on SPX. And that is the high until it isn't. Markets are overbought, so the bears need to get moving here now. There are 6 gaps below to go after. Their showing has been pretty weak lately not even being able to push SPX below the 9 day for a reversion to mean on the longer term. Maybe the time is finally here to try.
Strange market to say the least, check out the recent Fear/Greed: https://www.cnn.com/markets/fear-and-greed
cnn.com
Fear and Greed Index - Investor Sentiment | CNN
CNN's Fear & Greed Index is a way to gauge stock market movements and whether stocks are fairly priced. The index uses seven market indicators to help answer the question: What emotion is driving the market now?