Check out google trends and enter recession as a term. Interest in recession is sky high, similar to 2008 which was a predictor of recession.
I think the market will fall down through wedge or rectangle soon. Yes, 2550 could be a target to aim for. A DCF valuation using 4.5% growth rate in earnings and 8.2% discount rate gives a S&P500 valuation of 2700. It could be lower in a recessionary situation. Be careful of volume on TV charts, it represents CFDs traded. Picture could be different for actual shares traded or futures traded.
supratimbarman
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@victorko, Thank you very much. I am glad you see this the same way. I see danger coming up the road. Could I ask you, where would I see the actual volume. My trading platform does not give me the volume either. Victor, I very much enjoy your comments and insights and give them much respect and priority. Thank you again.
victorko
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@supratimbarman, Check the actual share volume of ETFs like SPY, QQQ and IWM on Trading View. These are the main ETFs covering the market. I think this volume is more reliable than CFD volume.
I think the market will fall down through wedge or rectangle soon. Yes, 2550 could be a target to aim for. A DCF valuation using 4.5% growth rate in earnings and 8.2% discount rate gives a S&P500 valuation of 2700. It could be lower in a recessionary situation. Be careful of volume on TV charts, it represents CFDs traded. Picture could be different for actual shares traded or futures traded.