This chart shows the baseline of the Ichimoku Cloud for the monthly candle of the S&P 500 (SPY) ETF. We've finally reached a level that virtually always supports the S&P 500 outside of recessions. It is likely that prices will find a significant bottom here. However, if inflation continues to spiral and prices drop significantly below this level, then it is quite likely that the economy will enter a recession (if one hasn't already begun).
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To follow me on X:
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.