Jordan Roy-Byrne: Stock Market Crash Risk Rising as Banks Crack

The Daily Gold, Released on 3/9/23

The stock market is threatening to roll over again and break its critical 40-month moving average. Cracks in the banking stocks are starting to appear and could spread to other sectors of the economy. Tight Fed policy has not yet to begun the damage economy as it could over the coming months. The bear market template argues for the start of an accelerated decline this spring. In the last 25 years, the start of many a market declines was in March or May. The timing is ripe and if a recession is to begin in Q3, then the market is at risk of a leg down to the 2022 lows.

Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.

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