2024-04-03 06:07:04 ET
Summary
- S&P 500 is down at the uptrend support level after a strong Q1 performance, in response to the rising interest rates.
- Rising interest rates threaten to burst the stock market bubble addicted to monetary and fiscal stimulus since 2008.
- The longer the short-term interest rates stay high, the higher the probability of a recession and recessionary bear market.
Uptrend support level test
After the stellar Q1/24 performance and 10%+ gains, the S&P 500 ( SP500 ) started Q2 with two down days, testing the uptrend support level. The slight dip in stocks to start the Q2 appears to be the response to the rising interest rates....
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SP500: Rising Rates Threaten To Burst The Bubble