Stocks staged a sharp rebound on Friday as concerns over a potential government shutdown eased after Senate Minority Leader Chuck Schumer (D-NY) opted not to veto a Republican sp
The Atlanta Federal Reserve’s GDPNow model projects a 2.4% contraction in the U.S. economy for the first quarter of 2025, while JPMorgan has raised its recession probability to 40%.
The US stock market fell on Thursday, Mar. 13, closing 10.1% below its previous peak, a decline that many analysts define as a “correction,” which is a slide ranging from 10% to 20%.
On March 13, US markets closed lower, with the S&P 500 entering a correction as trade war fears overshadowed positive inflation data. Gold hit record high, while Dow and Nasdaq declined.
The current view suggests XAUUSD has completed a 5-waves pattern in the cycle from the 2832.2 low. GOLD is now forming a wave ((ii)) black correction. The price shows an incomplete sequence in the decline from the peak.
For now, traders are bracing for another round of policy-induced whiplash, knowing full well that in this environment, certainty is a luxury they won’t be getting any time soon.
Stocks are hitting some 'must hold' levels. The slow managed decline suggests that we may not be done with this unwinding, flash relief rallies notwithstanding.
