2024-05-07 00:13:26 ET
Summary
- The recent selloff in S&P500 stopped at a 5% dip.
- A possible bounce higher is in hopes of a soft-landing (again).
- However, this possible bounce will be crushed again by either recessionary data, or higher inflation, or possibly both.
For now, it's a 5% dip
I warned on April 19th that
the S&P500 (SP500) is facing a 20% deep correction over the near termThe S&P 500 faces a dangerous situation with three major events (a hawkish turn by the Fed, escalating geopolitical tensions, and upcoming earnings reports from mega-cap tech firms) colliding with bubble-like valuations.
Read the full article on Seeking Alpha
For further details see:
SP500: A Deeper Drawdown Delayed For Now