Bullish Trends Are Aligned On Multiple Timeframes


  • The S&P 500’s trend is constructive on daily, weekly, and monthly timeframes, indicating market participants are interpreting the fundamentals in a favorable light for future economic outcomes.
  • The primary fundamental drivers in June 2023 include peak inflation in 2022, the Fed nearing the end of its interest rate-hiking campaign, excess consumer savings, and a stable economy.
  • Bearish concerns include weak market breadth, elevated inflation, and the possibility of future rate hikes leading to job losses, curtailed spending, and a recession.

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