$SPY TOP 20 UPDATE
Added 2023-03-16 15:39:29 +0000 UTC$2 Trillion liquidity back stop has been welcomed by the market but it has now gone from $25 Billion to $2 Trillion in the matter of 1 week.....we spoke about the FED waiting to use the nuclear option a few days ago. If banks start accessing this fund program, we are effectively seeing a return to QE, incredible developments in the space of only 1 week!
I do not believe this paints a healthy picture for the economy or the market, the FED is doing what it can to divert a crash and that is expected but a cracked market can not be held together with band aids.
The MACD is showing still in a bearish trend and the price action is under the 200 Day MA on the daily now and most importantly, the original channel has acted as a resistance level now too.....a lot of work is needed for this to flip bullish.
