Hi HODLers and Hiveans,
Lately we have received different signals. Market is continuing to go up and it seems the Bank stress might be on hold for now.
Debt ceiling discussions are still ongoing. We had recent data from China which is clearly indicating that the economy is not roaring back to pre-Covid levels just yet.
In the US, I really like the Empire State Manufacturing Survey because it gives what Businesses think will happen over the next 6months. Most economic downturns are due to human behavior combined with financial metrics.
As you can see, Expected EmployeeWorkweek, Capital Expenditures and Technology Spending are all trending down. These are metrics I like because they clearly translate the mindset of businesses. They do not expect to invest a lot in the coming months... This is recessionary...
Time will tell, for now, it keeps climbing!
What is your view of the market? Up or Down?
Stay safe out there!
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