Market Trends
Where the Market is Headed Next
The reason markets are not breaking out in a substantial way after the 2022 bear market is because as growth and the consumer surprise to the upside, inflation becomes more problematic. We expect the FED to continue their fight against inflation by continuing to raise rates into 2023. The more they raise, and the longer they stay elevated, the higher the odds are that something gets broken in the economy. Regarding the broad market, here are two scenarios that I am tracking based on the structure from the October 2022 low. The blue count suggests that we are in the final swing before topping out with a push to new lows on the horizon. The Red count will find support above 3805 SPX, and begin a strong uptrend to new highs in the coming years.
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