SP500: Mr Price Strikes Back

S&P 500 sits at a critical juncture with equal odds of a technical correction or a trend change and rising downside risk. Macro deterioration and credit stress, together with sector rotation—energy strength versus metals weakness—are increasing pressure on corporate margins and signal weaker economic activity, supporting a more defensive positioning.

Analysis

S&P 500 sits at a critical juncture with equal odds of a technical correction or a trend change and rising downside risk. Macro deterioration and credit stress, together with sector rotation—energy strength versus metals weakness—are increasing pressure on corporate margins and signal weaker economic activity, supporting a more defensive positioning.