Market breadth isn't looking encouraging, and next support is exactly where? Spooky recessions odds are 50%.
S&P 500 withstood hotter core PCE with consumer income and spending data, yet fell through the key 5,715 level – taking XLF generals along. Market breadth isn‘t looking encouraging, and next support is exactly where? After a bearish call following acceptance of prices <5,715 (made 30min after the break), the bears were in control clearly. No intraday rebounds at all, and one crucial bond market development on top.
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