S&P 500 SPX - Stock Market Recession?
Hi Traders, Investors and Speculators
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
The S&P 500 on Thursday capped its worst six-month start to a year since 1970. 68% of chief financial officers ( CFO ) expect a recession to occur during the first half of 2023, according to a CNBC survey.
Months of stock market volatility, increasing inflation and rising interest rates have left many investors wondering if a recession is coming. The stock market tumbled again on Thursday, with the S&P 500 capping its worst six-month start to a year since 1970. Currently it’s down more than 20% year to date. The Dow Jones Industrial Average and Nasdaq Composite are also down significantly since the beginning of 2022, dropping more than 15% and nearly 30%, respectively. Meanwhile, consumer feelings about the economy have plummeted, and fear is high according to the University of Michigan’s closely-watched Survey of Consumers, measuring a 14.4% decline in June and a record low for the report.
World's richest man Elon Musk has already started laying off employees at Tesla as he anticipates a global recession. Facebook founder Mark Zuckerberg is following, claiming he plans to lay off some employees.
A quick update on trading times, as per NASAQ website:
Is the Stock Market Open or Closed on Independence Day?
Independence Day is a U.S. Stock Market Holiday, during which the U.S. Stock Market, including the Nasdaq and New York Stock Exchange (NYSE), is closed. This means that when the market closes this year at 4 pm Eastern time on Friday, July 1, it won't be open again until Tuesday, July 5. This day off from trading gives time to commemorate the Declaration of Independence of the United States.
Are Stock Markets Closed on July 5th?
Although closed for Independence Day on Monday, July 4, the stock market will re-open and have active trading hours on July 5th, starting at 9:30 am Eastern.
Does this seem like the market is bullish ?
In cryptocurrency markets :
⁕ Bitcoin seems bearish as it loses support zone $19500
⁕ Ethereum is testing crucial support zone and struggling to stay above resistance zone USD 1,100
⁕ XRPUSD ( native crypto of Ripple ) possible next support zone .29c
⁕ Bitcoin is facing a formidable resistance zone at 19500K
⁕ LINKUSDT facing short term selloff and high supply zones
⁕ SOLUSDT losing key demand zone
⁕ ADAUSDT / Cardano could dive towards the USD 0. 40 support zone
⁕ DOTUSDT Polkadot has lost -90% of gains since bull market
_________________
👀 Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎
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We thank you for your support !
CryptoCheck
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
The S&P 500 on Thursday capped its worst six-month start to a year since 1970. 68% of chief financial officers ( CFO ) expect a recession to occur during the first half of 2023, according to a CNBC survey.
Months of stock market volatility, increasing inflation and rising interest rates have left many investors wondering if a recession is coming. The stock market tumbled again on Thursday, with the S&P 500 capping its worst six-month start to a year since 1970. Currently it’s down more than 20% year to date. The Dow Jones Industrial Average and Nasdaq Composite are also down significantly since the beginning of 2022, dropping more than 15% and nearly 30%, respectively. Meanwhile, consumer feelings about the economy have plummeted, and fear is high according to the University of Michigan’s closely-watched Survey of Consumers, measuring a 14.4% decline in June and a record low for the report.
World's richest man Elon Musk has already started laying off employees at Tesla as he anticipates a global recession. Facebook founder Mark Zuckerberg is following, claiming he plans to lay off some employees.
A quick update on trading times, as per NASAQ website:
Is the Stock Market Open or Closed on Independence Day?
Independence Day is a U.S. Stock Market Holiday, during which the U.S. Stock Market, including the Nasdaq and New York Stock Exchange (NYSE), is closed. This means that when the market closes this year at 4 pm Eastern time on Friday, July 1, it won't be open again until Tuesday, July 5. This day off from trading gives time to commemorate the Declaration of Independence of the United States.
Are Stock Markets Closed on July 5th?
Although closed for Independence Day on Monday, July 4, the stock market will re-open and have active trading hours on July 5th, starting at 9:30 am Eastern.
Does this seem like the market is bullish ?
In cryptocurrency markets :
⁕ Bitcoin seems bearish as it loses support zone $19500
⁕ Ethereum is testing crucial support zone and struggling to stay above resistance zone USD 1,100
⁕ XRPUSD ( native crypto of Ripple ) possible next support zone .29c
⁕ Bitcoin is facing a formidable resistance zone at 19500K
⁕ LINKUSDT facing short term selloff and high supply zones
⁕ SOLUSDT losing key demand zone
⁕ ADAUSDT / Cardano could dive towards the USD 0. 40 support zone
⁕ DOTUSDT Polkadot has lost -90% of gains since bull market
_________________
👀 Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎
👍Hit like & Follow 🔔
We thank you for your support !
CryptoCheck
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