This is what will drive the market down in the new year

https://www.cnbc.com/2022/12/19/millionaires-plan-to-cut-their-holiday-spending-due-to-inflation-.html

This is bad, bad news. We've known for a while now that inflation has impacted the spending habits of lower-middle income consumers but the high earners have been relatively unaffected. What we have now is pretty much all millionaires surveyed saying they're planning to spend less this holiday season because of inflation.

The ripple effect is obvious. This will have an impact on the next earnings reports of companies across the consumer discretionary sector, from retail to travel. Look out below.