Federal Reserve Board finalizes hypothetical scenarios for its annual stress test

Not sure I agree with the majority of your comments.

Jobs: sure, we're in a no fire/no hire environment, but we're a long way from "horrendous" in terms of the labor market. I guess I could ask you to qualify that, but it is tough to do with limited "trustworthy" data.

As for the gold/silver/crypto losses making things worse for individuals, I very much disagree with that as well. The percentage of people invested in crypto is tiny. And I mean TINY. Those who do invest themselves might be too heavily involved, but the vast majority of investors wouldn't touch crypto with a 10 foot pole....and financial institutions are being told to allocate no more than 1-2% (if any) customer assets to crypto exposure. Why? Because it can do exactly what it is doing.

As for gold and silver. It is VERY constructive that there was a big correction. Without that, the bubble would have been much larger, more people would have piled in, and the implosion wouldn't have been contained to 30% before the retracement off the 50day MA. Additionally, the % of typical investor assets in metals is usually 5% or under...so, again, we're not talking a lot.

That leaves us with equities. I agree with you that there hasn't been a 20-30% correction in equities. I also agree that things are looking pretty weak at the moment (much to my personal dismay). That said, the overall economy in the US is quite strong presently. I don't know how else to say it. I'm looking all around. There's really no area that is getting beaten up badly. Services is strong enough. Manufacturing is thriving. Inflation isn't running wild thanks to higher for longer rates. I hate to admit, but, for the time being, the biggest risk to equities is that no rates come BECAUSE the economy is strong.

Tech dumping on the AI narrative concerns would be the start of something more broad, but that drum has been beating for months (years?). If you look at the big boys, most are pretty far off highs. Scary? Perhaps. Or, it could simply mean things have settled a bit and any further increases in META, MSFT, NVDA, TSLA, AVGO, etc will help lead the markets higher. Each of the aforementioned is 10-30% off highs. So, one could argue they have had their correction (at least I hope so!).

All this is to say that none of us know what is coming. Simply that a case can very easily be made for sideways/choppy "correction" vs. a full-on collapse.

......then again, if things keep sliding, the charts are going to get ugly very quickly and the velocity will certainly be increasing to the downside. GOOG was, for about 20 minutes, bolstering the market....but has pulled back off highs in the aftermarket. $7 down though is a LOT better than $33+, so let's hope things stabilize and the tech dip gets bought.........pretty, pretty please????? ;-)

Prepare for rate cuts! Market expectation on Fed rate cuts is unbelievable wrong this time around.

Jobs data is horrendous! We are about to fall off the cliff.

Losses in gold, silver and especially crypto is making all of this way worse for individuals.

The only correction we haven't seen yet is in the stock market.