/biz/ - Business & Finance

>>53368226
Outlook
>While traders were optimistic as 2023 began, the +4.2% rally in the first two weeks may have been a little too far, a little too fast. Q4 earnings have been disappointing so far and deteriorating economic data has kindled renewed recession fears. The indicators imply that this new risk-off sentiment could continue into next week.

Bottom Line
>Last week the indicators pointed to Moderately Bearish and with the SPX -100.24 (-2.5%) through Thursday (Jan. 19) that outlook was pretty much on target. As you can see below, there were about the same number of downgrades as upgrades this week, ergo the overall balance for next week remains ***Moderately Bearish*** again.