USCCI - Consumer Confidence Index - Recession is Here
Updated
The US Consumer Confidence Index (USCCI) does not look so good.
Consumers (normal people) are feeling anxious about their future, and they have good reasons for that.
The Bull Market did not last long after the Covid Pandemic and people don't feel optimistic about their future spending or wealth.
If you don't know what the CCI is, no worries, I will briefly explain, so that a 12 year old will know.
A very well-known university in Michigan started doing some surveys a long time ago.
They were asking people how they feel about their future, about their spending confidence, etc.
Basically, you can also ask yourself:
Can you afford a new car now?
Are you making more money now then you were 2 years ago?
Do you have financial stability? How do you feel about that?
Are you thinking of moving into a new, nicer home?
For me it's a NO for most questions above.
Not sure about you...
Now, if I may continue, I will tell you this: people are scared.
In fact, Covid shocked the world as we know it.
We got used to being bullied by the higher, running forces in the world.
Anyway, there are many factors for which Consumers are pessimistic at these times:
- War & Tensions: Ukraine vs. Russia
- Inflation Spike
- Energy Crisis
- Federal Reserve (FED) Interest Rate Hike
- Surging Prices
- Bear Market Fears
- Recession Talks
Remember this: WINTER IS COMING!
No joke, many will suffer.
The media plays a major role with inflicting sentiments in your mind.
As for me, I'm more of a technical guy, so I go with what my technical analysis tells me.
Until now I mentioned my personal fundamental analysis take.
I'm not optimistic about the markets.
The FED messed it all up. They overreacted with that Quantitative Easing (QE).
Artificial (fake & printed) money was injected, and of course it lost its value.
Because of that, Inflation skyrocketed, and of course they're surprised.
NO! It's the oldest trick in the book. They are controlling the global economy.
It's actually them who are causing inflation or stagflation, and also them who are switching bullish and bearish gears.
But enough about that. I'm gonna' switch to the Technical Side.
I just wanted to get that off my chest. LOL
So, I'm an Elliottician. That means I trade by using the Elliott Wave Theory.
It proven to me over the years that it works.
The Market's price movements are simply suman beings buy & sell emotions, as a herd.
Yeah, they're all sheep, and most indicators are based those herd emotions.
So, on this USCCI chart, which is coming from 1953, I'm labeling my Elliott Wave Count.
What I see is a Triple Three Complex Correction, in a very BIG degree.
TradingView calls it: Elliott Triple Combo Wave (WXYXZ).
Based on that Wave Count, I am suspecting more down-side to this chart.
In a nutshell, I'm anticipating a RECESSION.
How big it will be and how long it will last, that depends.
For what I know, the Bear Market has already started for Indices globally.
My VIX (Volatility Index) idea backs this up.
Short and simple: the USCCI would tag the 61.8% Fibonacci Retracement of Wave A (white).
That's a point of interest for bulls, because it reflects the Golden Ratio.
If it breaches and goes lower than that, then it's not just a Recession anymore, it's gonna' be more like a Depression.
1929 all over again. Funny how these Cycles come into play...
My chart has labels and infographic stuff.
Write a comment if you want, give a like if you give a :poop: :D
Good luck!
Consumers (normal people) are feeling anxious about their future, and they have good reasons for that.
The Bull Market did not last long after the Covid Pandemic and people don't feel optimistic about their future spending or wealth.
If you don't know what the CCI is, no worries, I will briefly explain, so that a 12 year old will know.
A very well-known university in Michigan started doing some surveys a long time ago.
They were asking people how they feel about their future, about their spending confidence, etc.
Basically, you can also ask yourself:
Can you afford a new car now?
Are you making more money now then you were 2 years ago?
Do you have financial stability? How do you feel about that?
Are you thinking of moving into a new, nicer home?
For me it's a NO for most questions above.
Not sure about you...
Now, if I may continue, I will tell you this: people are scared.
In fact, Covid shocked the world as we know it.
We got used to being bullied by the higher, running forces in the world.
Anyway, there are many factors for which Consumers are pessimistic at these times:
- War & Tensions: Ukraine vs. Russia
- Inflation Spike
- Energy Crisis
- Federal Reserve (FED) Interest Rate Hike
- Surging Prices
- Bear Market Fears
- Recession Talks
Remember this: WINTER IS COMING!
No joke, many will suffer.
The media plays a major role with inflicting sentiments in your mind.
As for me, I'm more of a technical guy, so I go with what my technical analysis tells me.
Until now I mentioned my personal fundamental analysis take.
I'm not optimistic about the markets.
The FED messed it all up. They overreacted with that Quantitative Easing (QE).
Artificial (fake & printed) money was injected, and of course it lost its value.
Because of that, Inflation skyrocketed, and of course they're surprised.
NO! It's the oldest trick in the book. They are controlling the global economy.
It's actually them who are causing inflation or stagflation, and also them who are switching bullish and bearish gears.
But enough about that. I'm gonna' switch to the Technical Side.
I just wanted to get that off my chest. LOL
So, I'm an Elliottician. That means I trade by using the Elliott Wave Theory.
It proven to me over the years that it works.
The Market's price movements are simply suman beings buy & sell emotions, as a herd.
Yeah, they're all sheep, and most indicators are based those herd emotions.
So, on this USCCI chart, which is coming from 1953, I'm labeling my Elliott Wave Count.
What I see is a Triple Three Complex Correction, in a very BIG degree.
TradingView calls it: Elliott Triple Combo Wave (WXYXZ).
Based on that Wave Count, I am suspecting more down-side to this chart.
In a nutshell, I'm anticipating a RECESSION.
How big it will be and how long it will last, that depends.
For what I know, the Bear Market has already started for Indices globally.
My VIX (Volatility Index) idea backs this up.
Short and simple: the USCCI would tag the 61.8% Fibonacci Retracement of Wave A (white).
That's a point of interest for bulls, because it reflects the Golden Ratio.
If it breaches and goes lower than that, then it's not just a Recession anymore, it's gonna' be more like a Depression.
1929 all over again. Funny how these Cycles come into play...
My chart has labels and infographic stuff.
Write a comment if you want, give a like if you give a :poop: :D
Good luck!
Note
Note
TNX (10Y Yields) just broke out of a 40-year down-trend...Note
FED Rate (FEDFUND) about to spike. Crash is imminent.Note
US 10y Bonds (USB10YU) finalizing a Cycle Degree drop.Bull swing will crash Indices.
Note
VIX spike sequence!Note
Consumer Sentiment in the US should turn negative from here.Note
Recession Sentiment has truly started.Note
Nowhere near "Out of The Woods".Consumers are entering the "Recession Sentiment".
Panic will hit the wealthy, markets will sell-off, average guy will suffer...
Note
MARKET CRASH & RECESSION!
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