I switched the S&P500 to Regular Scale and it appears to have bounced off the Macro Descending Channel. This is good news for the Bulls.
The main news I'm hearing is that some banks are getting bailed out in order to provide retail confidence (depositors are guaranteed to get their deposits back although the banks have billions in loses?). I feel like this would have some type of consequences like more inflation down the line which would warrant more hawkish interest rate hikes. Not sure if the media wants everyone to stay calm / not panic so that the whales can slowly get out of their positions at these somewhat high prices.
My theory is if the FED turns the money printer back on, then that's overall bullish for the market.
The main news I'm hearing is that some banks are getting bailed out in order to provide retail confidence (depositors are guaranteed to get their deposits back although the banks have billions in loses?). I feel like this would have some type of consequences like more inflation down the line which would warrant more hawkish interest rate hikes. Not sure if the media wants everyone to stay calm / not panic so that the whales can slowly get out of their positions at these somewhat high prices.
My theory is if the FED turns the money printer back on, then that's overall bullish for the market.