The market is enjoying a nice bounce off the mid-June lows as the S&P 500 nears the critical 4,000 level with a plethora of market-moving events on the horizon like a Fed meeting, earnings season, the July jobs report, and CPI.
Given the market’s bearish trend and these meaningful catalysts, it’s possible to see the market break out higher from these levels or collapse back to the previous lows. Regardless of what happens in the short-term, the market still has to contend with a decline in earnings due to the looming recession.
