Several red lights are flashing as the S&P 500 enters a dangerous zone. The stock index could drop notably soon.
While government and Fed officials deny there is any recession in the US, claiming the job market is rock solid, others see the recession as ongoing. It’s been almost one year since the stock market turned south and interest rates skyrocketed. Let’s see whether a market crash is inevitable or if it’s only a misconception.
Will history repeat itself?
This year’s move of the S&P 500 is very similar to the one of 2008, as Michael J. Kramer showed in his tweet. The stock index even dropped below 700 during the biggest volatility, which is approximately a 60% downfall. Now the S&P 500 is down just around 18%.
Its do or die for the S&P 500 2022 vs. 2008 analog #sp500 $spx pic.twitter.com/FPIr9vgcpX
— Michael J. Kramer (@MichaelMOTTCM) November 28, 2022
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