The market has work to do.
We’ve been in a Bear Market since February of 2021 when stocks peaked. Since then it’s been a slow deterioration ultimately hitting almost every sector, with some areas just getting absolutely destroyed.
But just to keep it simple, the bottom line is we’re below overhead supply in almost every case. There are exceptions, but I think the S&P500 shows what’s really going on for the average and median stock or sector.
This is a top, and price is below former support: [Read more…]