that"from a technical perspective, price action in the stock market has been tentative in recent months, with multiple studies beginning to show signs of weakness emerging in the broader indices."
The stock market has never bottomed before a recession has officially begun, Richey added."Considering those two facts alone, the likelihood that the October 2022 lows hold as the lows for this bear market is rather low, at least according to historical economic and market cycles." Based on technical analysis alone, said Richey,"the odds that a new bull market is in the works with the current October lows in place are rather subdued and the threat of a potentially violent bout of market volatility in the months ahead is historically elevated."that he is a little more optimistic than the two Sevens Report experts.
"Assuming we see unemployment start to tick incrementally higher and inflation continue to abate, the Fed will likely pare back on their interest rate hikes. These could ultimately have investors feeling a bit more optimistic regarding stocks going forward with modest performance likely weighted toward the back half of the year."
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