SPX500 is testing a very strong resistance-zone which is crucial for the next moves.
We either get a market that prices in less rate-hikes by the FED as the inflation settles down while economy suffers (So market expects FED to support economy as inflation settles down),
or we get to see a market that prices in more rate-hikes due to higher CPIs than expected while the economy suffers (Stagflation).
Even at the best of times, the best of tools give guesses. To me, covid era proved that the (Fed, Treasury) are more than willing (happy even), to rack up GDP-scale debts for political purposes (yeah - disguised as altruism). So to me : 1) what are the (Fed, Treasury) going to do, and 2) is there any change in the international investors' faith in the spending? (Russia, China, OPEC - NO, and that's a significant chunk of the world, with a big question regarding (India, Japan, Korea)). Assume for a minute that you were Jerome Powell, even knowing what you do, are you really sure what will happen?