S&P 500: Where is the S&P 500 Bottom?

 


The bears are moving the goal posts around while arguing that Fed Chair J. Powell could make the same mistakes as Ben Bernanke, which led to the Great Recession of 2008. Back in 2007, the S&P 500 sell-off began after the effective federal funds rate (EFFR) at 5.25% plunged while the 2Y U.S. Treasury yield crossed under its 600-day EMA, typically a sign of an impending recession.

In 2022, the sell-off began in early January, even before the Fed's first rate hike at the March FOMC meeting. The question that needs to be asked is when will the S&P 500 bottom?...After the EFFR reaches its terminal rate or after a potential recession in 2023 is over?!

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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