S&P 500: Tighten Your Seat Belts!..The Quant Funds May Want to Take the S&P 500 Down to Retest 3,200!

 


UBS told CNBC last month that the lows are not in and the S&P 500 could fall further to 3,200, reaffirming the price target set by BofA Securities in May. 

At this rate, the index could be bottoming before the effective federal funds rate reaches its terminal rate or a potential recession in 2023 even begins, unless someone tries to move the goal posts around again.

Keep an eye on the trendline support at ~ 3,545! Let's see if the S&P 500 can bounce off from there.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to see the latest update!

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