Pulling up the S&P500 E-mini futures chart.
Looking at the Daily, we can see a hard rejection off of the 3900 mark.
Signaling a very bearish scenario for equities and the markets as a whole.
We're in a clear downward channel, couple that with the FED staying strong on hiking interest rates into 2023 and entrenched inflation...and it doesn't look pretty
If we had to guess, a drop to 3100 would be a strong bottom case for equities.
With some of the biggest companies in the world already trading at a serious discount, we might be seeing EVEN BETTER deals in the coming months.
We'll be looking for nice setups, and wait until we get closer to 3100 until we start buying up longer term holds.
Eyes peeled out there.
-TucciNomics
Chief Overlord, AlgoBuddy
Looking at the Daily, we can see a hard rejection off of the 3900 mark.
Signaling a very bearish scenario for equities and the markets as a whole.
We're in a clear downward channel, couple that with the FED staying strong on hiking interest rates into 2023 and entrenched inflation...and it doesn't look pretty
If we had to guess, a drop to 3100 would be a strong bottom case for equities.
With some of the biggest companies in the world already trading at a serious discount, we might be seeing EVEN BETTER deals in the coming months.
We'll be looking for nice setups, and wait until we get closer to 3100 until we start buying up longer term holds.
Eyes peeled out there.
-TucciNomics
Chief Overlord, AlgoBuddy
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