$SPY TOP 20
Added 2023-03-21 21:38:57 +0000 UTCWe are in uncharted territory as the market grasps with the influx of announcements about either the banking system or the impact of interest rates on inflation and the economy. Yellens announcement today that the Fed are looking for ways to secure all deposits in all banks is bizarre to me, this does not sort out the issue that many banks are having now, many are already needing money right now, so if the FED decides to move to a QE approach again, how will that impact inflation?....what is clear amongst every one is that a recession will still come, its only variable is whether it will be, soft (unlikely), hard or difficult. This is not bullish and when earnings reports starts again in May, they will likely be impacted here.
The chart is updated to reflect the some events of late that will impact a market, like Yellens announcement today.
Overall, the trajectory remains the same and it will be interesting to see what impact the interest rate decision will have on the market tomorrow, I think when the market digests this information in a few days, it may react accordingly....and I believe concerns will still be there.
