This isn't so much technical analysis as it is fundamental. But the mounting evidence still points to the fact that the global economy is clearly having a moment.
The stock market is the most sensitive indicator of the economy. Even though manufacturing has continued to slip, tensions in the middle east have escalated and trade with China has deteriorated at an unsurprising rate, THER STOCK MARKET HAS CONTINUED TO GRIND HIGHER.
At some point, the reality of "buy the dip" will be shattered and the market will enter a multi-year bear market. It will bring about a lot of positive change both in the economy and society. But unfortunately, there will be a lot of pain before that happens.
The stock market is the most sensitive indicator of the economy. Even though manufacturing has continued to slip, tensions in the middle east have escalated and trade with China has deteriorated at an unsurprising rate, THER STOCK MARKET HAS CONTINUED TO GRIND HIGHER.
At some point, the reality of "buy the dip" will be shattered and the market will enter a multi-year bear market. It will bring about a lot of positive change both in the economy and society. But unfortunately, there will be a lot of pain before that happens.
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tradingeconomics.com.../business-confidence
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That being said short term outlook is a buy within a descending channel. More short opportunities to be had
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COMPLETE BREAKDOWN!
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perfect pullback
