The stock market began 2023 with a rally based on the "green shoots" narrative of a Fed pivot and optimism about the effects of China reopening its economy. Since then, the S&P 500 rose to test resistance as defined by its falling trend line and pulled back. Similarly, the equal-weighted S&P 500, the mid-cap S&P 400, and the small-cap Russell 2000 all tested and failed at overhead resistance.
Are the "soft landing" green shoots being trampled? Here are the bull and bear cases.
The full post can be found here.
Will the soft landing green shoots be trampled?
January 21, 2023 at 13:25 PM EST