Weekly Briefing 7/10/22 - The Forecast

Weekly Briefing 7/10/22

Weekly Briefing 7/10/22

The major indexes continue to advance into our July 14-15 projected peak.  From this peak, a substantial drop should occur into the first week of August as stocks complete the correction of 2022.  We then foresee a massive rally into year-end, with potential for the major indexes to reach or even exceed their all-time highs.  The much anticipated recession will likely then set in by January of 2023.  We forecast it to last into the middle of 2025.  During this time period, we anticipate the majority of our trades being placed to the short side.

Last Week’s Economic Data:

ISM Non-manufacturing PMI:  Beat

JOLTs Job Openings:  Beat

Initial Jobless Claims: Miss

Non-farm Payrolls:  Beat

Upcoming Economic Data:

Wednesday:  Core CPI

Thursday:  PPI, Initial Jobless Claims