The Resistance Hit 4th Time - SPX500
Saw the red line! It is now hit the 4th time by the market.
Although oil has come down from 130 to 80 USD per barrel giving some relief to the oil-dependent economies and inflation is also in a downtrend, the problem is worse and deeper. This alarming deeper problem is US debt which is now 137% of the GDP. Imagine it was hardly 67% in 2008 during the financial crunch. If things were good, why did this debt rise to 137%.
Debt is good for industries till it remains fuel for growth. But when it becomes fuel for existing debt it is really problematic.
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