We are not in a recessionary bear market yet....

This analysis overlays US Recessions over SPX on the top pane.

Bottom pane is a technique shared by famous trader , Larry William - recently presented at a NAAIM Conference. The technique looks at US job market as % of population. You can find more on Sentimentrader.

Larger declines in stock market are usually accompanied by a recession. There is clearly a softening of the labor market but hanging above the recession territory.

Unless we dip into a recession and Oct 2022 lows on SPX holds - we are not in a recessionary bear market.

Beyond Technical AnalysisJOBSjobsreportlabourmarketrecessionS&P 500 (SPX500)

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