Yea we are heading for a recession. Speculators can influence the market, but that is only minor compared to actual economic situation. There are a few important factors which look really bad for 2023. First of all inflation is expected to remain at double digits for 2023. This is probably the worst thing to happen after the Ukraine Russia war this year. In Western countries we have not seen such kind of inflation rates in 40 years. Investors and consumers are scarred and afraid to use their money. The Christmas business this year is going to be bad as many people are struggling with higher living expenses and wages are not rising fast enough. Same with investors, they sold many risky assets only to hold cash. For the economy its very bad if people only hold cash and don't spend it. This will result in lower production and investment for the next year. The reversal of energy prices might only be short term and will not offset the damage it has done the last 10 months. I would prepare for 2023 getting worse than 2022.