S&P500 - Big Correction Incoming 📉
Taking a look at the SPX Daily chart.🍿
We've drawn out 3 dip + rallies to illustrate that a 4th dip might be on the way. ⬇️
After being rejected at 4000, we can see the path down to 3300-3400 looks increasingly more likely. 📉
This combined with an expected/rumored earnings slump & lackluster Q4 for companies...🥶
We've also thrown on the US Equity Gaps indicator to help confirm this thought process.
Credit card debt at record levels, thousands being laid off, basically dead real estate market...not much reason to be bullish rolling into 2023. 🐻
-TucciNomics
Chief Overlord
We've drawn out 3 dip + rallies to illustrate that a 4th dip might be on the way. ⬇️
After being rejected at 4000, we can see the path down to 3300-3400 looks increasingly more likely. 📉
This combined with an expected/rumored earnings slump & lackluster Q4 for companies...🥶
We've also thrown on the US Equity Gaps indicator to help confirm this thought process.
Credit card debt at record levels, thousands being laid off, basically dead real estate market...not much reason to be bullish rolling into 2023. 🐻
-TucciNomics
Chief Overlord
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