Despite the huge upside we had the last weeks, we are STILL in a massive downtrend. I see it going up till 4200, when it should lose some momentum, this volume has been driven by the results of big companies. I think that the market today is not pricing the stagflation that we are heading into, and it won't till the analysts of wall street adapt their expectations to reality. By the end of the year we should see it between 2800-3500. The "official" inflation seems to be in its peaks now, but I don't see a clear recovery till 2024. Now the USA Government is saying that two consecutive periods of negative GDP doesn't mean that the economy is in recession. Honestly, I think they are just trying to keep the market up the longer they can, in order to sell their balance sheet at higher prices. This thing can reverse in every moment, or it could continue to be bullish. Better wait to trade to the downside till some clear reversal appears. I'm still bearshing over the next 6-12 months.
