Bumpy ride ahead - prepare for a re-test around 2400 on SPX500
The pressure is mounting but there is a realisation that the Fed can only do so much. A significant tranche of businesses are going Chapter 11 irrespective of the money thrown at them as they will never be going concerns again. We all know the sector lists under threat and the bankruptcies are building. Plus the likelyhood of a second outbreak such as that occuring in Bejing would be the final straw for many many more businesses.
I am fairly confident that a significant correction is now on the cards down to 2400 possibly 2100 in July-August and then the potential for massive bubble rally into the November US election.
I am fairly confident that a significant correction is now on the cards down to 2400 possibly 2100 in July-August and then the potential for massive bubble rally into the November US election.
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