- The original post can be found here.
- The Facebook post can be found here.
- There are many videos found here on our YouTube page.
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If you hade the chance to watch many of our videos you will see that our finger has been firmly on the pulse of these markets. You will also see that we’re not the “I told you so” commentators or bragging as-if everything we say is never wrong.
Now that the above is out of the way – let’s look at the updated SPX and NDX Chart, which we originally posted on May 22, 2022 with our assumed targets; taking into consideration our statistical formulations including various economic components.
S&P 500 (SPX) Chart
NASDAQ-100 (NDX) Chart
Government Debt in the United States increased to 30499619 USD Million in May from 30374155 USD Million in April of 2022.
Gross Federal Debt to GDP
The United States Government Debt is estimated to have reached 137.20 percent of the country’s Gross Domestic Product in 2021.
Michigan Consumer Sentiment
The Michigan consumer sentiment in the US fell sharply to a record low of 50.2 in June of 2022, well below market forecasts of 58, preliminary figures showed. The current economic conditions subindex sank to an all-time low of 55.4 (vs 63.3 in May) and the expectations gauge plunged to 46.8, the lowest since May of 1980.
Credit Card Accounts
The number of credit card accounts in the US rose by 31.44 million to a record high of 537.11 million in the first quarter of 2022, as Americans face decades-high inflation and higher interest rates.
Money Supply M2
Money Supply M2 in the United States decreased to 21728 USD Billion in April from 21809.70 USD Billion in March of 2022.
Overnight Repo Rate
The United States Overnight Repo Rate decreased to 1.46 on Friday June 17 from 1.50 in the previous day.
Overnight repo rate is the interest rate at which different market participants swap treasuries for cash to cover short-term cash needs. The repo rate is helping to ensure banks have the liquidity to meet their daily operational needs and maintain sufficient reserves. The repo rate usually trades in line with the Federal Reserve’s target interest rate.
The Chicago PMI in the United States increased to 60.3 in May of 2022 from a downwardly revised 56.4 in April and beating market forecasts of 55.