S&P 500 continued non-stop to the downside – the little dead cat bounce didn‘t last. Unless HYG returns solidly above its 200-day moving average while TLT at least mirrors that move, the odds of a credible stock market reversal conquering for starters 4,015 again, are low. Q4 2022 hedge fund letters, conferences and more The bears are in the driver‘s seat, and as Q1 and Q2 would bring sizable declines well into 3,8xx to start with, it‘s inconsequential whether 4,045 gets retraced in the days to come, or not – and not that the market setup would favor that outcome today. 4,015 is a major suppor…

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