Is SET still looking to go down?

Hello everyone. After SET broke through a key support level yesterday, selling pressure continued until today. Even though there were short rebounds, it's still not very trustworthy.

Personally, I think the market is still under pressure from several external factors, including inflation and the Fed's interest rate hikes, which are still important variables, as well as concerns about a recession, which is starting to show signs from many countries. You can see that assets that used to be Safe Haven like $GLD are also facing selling pressure. Today's price is $364.96, which is quite a decrease from the previous day.

In this situation, I still prioritize stocks with consistent profits or Defensive stocks, but we also need to be careful about valuation. Anyone with different views or ideas can share them.