The Sentiment in the Market is Very Bearish Right Now
The Sentiment in the market is very bearish right now.
1. Anthropic + OpenAI Ceo + Musk calling for a slowdown in AI
2. Oil + 10 year Treasury Yields elevated
3. Iran war ongoing.
4. 85%+ chance of interest rates rising tomorrow.
The most bullish scenario we need to see is a 25 bps rate hike + No more hikes the rest of the year, End of the Iran war to bring down oil and inflation. If this happens, $S&P 500(.SPX)$ and $Invesco QQQ(QQQ)$ new all time highs coming next month.
$S&P 500(.SPX)$ <7550 = Bearish
$S&P 500(.SPX)$ > 7650 = Bullish
$S&P 500(.SPX)$ between 7550-7650 = CHOP
Be careful tomorrow, its going to be a volatile one. 🫡
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