The U.S. Consumer Confidence Index has hit another low. This suggests that Americans are tightening their belts and reducing investments, which could lead to further economic deterioration or possibly a contrary signal.
The last four lows:
1. November 2022, bear market bottom;
2. May 2023, a phase of boredom, with a small bull market starting in October;
3. November 2023, when the small bull market was in full swing;
4. July 2024, the eve of the bull market starting in November.
The current low does not mean an immediate V-shaped recovery, but it does indicate that we have entered a range for building a bottom position.
