While it is nearly impossible to call a bottom in any market, let alone in the stock indexes, we might be very close if not reached a bottom today. My theory is not so much price action today, although we did manage to forge a new low across the board and are currently higher in three out of the four indexes we trade, but what I am suggesting us that fed might start to realize that we are in or heading to a recession and to be super aggressive in raising rates in this type of environment is not something they want.
Most indexes are down around 20% off their highs and the market has in my opinion has done the work that the fed wants to do. So don’t be surprised if the fed slows down the hiking of rates, which in turn could be super positive for stocks.