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Currently, the S & P 500 just endured four 1% declines in a month for the first time since last October (5). The index's 20-day moving average has undercut the 50-day moving average for the first time since November, and there's a noticeable potential three-month topping pattern in play, as well. The 20-day moving average just crossed above the 50-day moving average, and both lines have started to curl higher. To drive this point home further, the upside-down version of the current S & P 500 looks a lot like… the S & P 500 (right-side-up) from last fall, as the index was coming back from the August-October correction. Here's a picture of the biggest bullish pattern from 2023, which was triggered soon after the 20-day moving average crossed over the 50-day moving average.
Persons: permabears, permabulls, it's, Frank Cappelleri
Recession views are dangerously similar to those in 2007, SocGen's Albert Edwards said. Soft landing or no landing outlooks are growing on Wall Street as the US appears on solid economic footing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Those signs appear lost on many other market commentators, who have dialed back their recession views in the last few months. "All this is (dangerously) reminiscent of 2007, when all around were telling me I was wrong and should give up calling that much-delayed recession," he later added.
Persons: SocGen's Albert Edwards, Edwards, , Société, Albert Edwards, That's, Doom, Nouriel Roubini Organizations: Service, Chicago, York Fed's Survey, Consumer, National Federation of Independent Business, National Association of Business, Fed, Investor Locations: York
Here's what I come up with when I do that for the stock market and broader economy in 2023. There are a lot more pros than cons. That's a cushy seat on the sidelines and it's hard to get those people back into the equities market. But we have so many strong companies that the layoffs simply haven't been significant. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
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