Interesting week ahead! Many charts signal market weakness aligning with week 21. Investors on alert for potential shifts.

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https://twitter.com/FinanceLancelot/status/1684832211197964288








US Consumers Are Running Out of Cash and Piling Up Record Credit Card Debt

Americans’ financial health is showing signs of strain, as pandemic-era savings deplete and credit card debt hits record levels, recent Federal Reserve data indicates. During the pandemic, direct stimulus spending allowed for lower credit card debt and a surge in savings, amassing a collective $2.3 trillion. However, Gen Z and millennials are now seeing significant credit card debt increases, and the overall cash balance in American households is at its lowest since April 2020. With inflation persisting and the student-loan payment pause potentially expiring in September, further economic distress is feared. Despite positive trends in wages and GDP, many Americans continue to struggle with mounting bills and dwindling savings, challenging the economic recovery narrative.

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