Making a prediction about stock market direction is always going to be tricky when we have no confirmation of whether we will see a US soft or hard landing. News and evidence will percolate and trickle until we know sometime in the future although we can derive insights from ongoing trends.
Ongoing trends do not favour a soft landing as one can deduce from this thread but it could take a little longer to pan out.
My observation of US bank stocks behaviour over the past month suggest to me that they are turning down and if we get another down week next week, it is likely that US bank stocks are on the way to make lower lows after having risen some 20+pc - and that would be negative for our XJO which heavily depends on our banks for support given its weightage and resource blue chips in winter land.
