The market is likely to see volatility, and it’s likely that we will continue to have a situation where the market will be difficult to hang onto.
- The S&P 500 ended the trading session on the back foot, threatening to break down through major support. At this point, it is more likely than not going to continue to go lower, reaching down to the 3800 level.
- At this point in time, there’s no reason to think that the S&P 500 is going to see longer-term strength because quite frankly interest rates continue to rise.
- Ultimately, this is a market that I think we will continue to see a lot of fear in, and therefore it would not surprise me at all to see this market continue to fall every time it rallies just a bit.