MacroVoices #388 Lakshman Achuthan: Recession Still On Deck
Macro Voices
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The SPX Spot Price Is Trading Around 4470
S&P futures are trading just slightly above the spot price you were talking about. To me, this 4500 level on the futures themselves is a very critical level. The entire month of August could see pullbacks even as low as 4300 where the Fibonacci retrace zones lie. This is a very toppy market in my opinion and the breadth is starting to narrow. It may take much of the rest of the summer in order to really solidify this. But I do that small caps are the better place for your money right now.
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