Meta Strategy Trading Portfolio – Probability Map Update.
Still range-bound after all these months…
Stocks keep battling with a ceiling at S&P 4200-4300, as they have been for months.
At the same time each attempt to trigger a serious decline is quickly followed by a renewed run aiming for another breakout.
The public discussion and economic reality mirror this feeling of being trapped.
A recession looms on the horizon, as the FED is finally preparing to pause interest rate hikes and Season 2 of the banking crisis has started playing.
But the technical landscape keeps pointing to a higher probability for a break above resistance, which is supported by skeptical sentiment and timid positioning.
This would clear the air and put stocks solidly into the recovery half of this market decline.