From a technical point of view, the SPX is in a rising wedge pattern with bearish divergences on the indicators and a FIBO retracement near 61.8%.
From a macro point of view, it should be remembered that all inflationary shocks have always caused a recession, the warning signs of which are bank failures (Silvergate Bank, Silicon Valley Bank, Signature Bank, First Republic Bank and soon PacWest).
In the short term, the market drop will surely be triggered by the US debt crisis.
From a macro point of view, it should be remembered that all inflationary shocks have always caused a recession, the warning signs of which are bank failures (Silvergate Bank, Silicon Valley Bank, Signature Bank, First Republic Bank and soon PacWest).
In the short term, the market drop will surely be triggered by the US debt crisis.
