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S&P 500 bleeds to fresh lows on the day back of hawkish Fed Powell S&P 500 bleeds to fresh lows on the day back of hawkish Fed Powell

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More hopium – Crypto News

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2 years ago

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Both the S&P 500 and real assets welcomed the BoJ not giving ground, which translates into more money creation in defense of JGB yields, with USD consequences (no relief rally just yet, no). Similarly the incoming data didn’t send risk assets cratering. Markets want to believe that these disappointments (interpreted in the tweet I linked to), make the Fed pivot closer. That’s a miscalculation – reckoning awaits, and it will take time to arrive.

Keep enjoying the lively Twitter feed serving you all already in, which comes on top of getting the key daily analytics right into your mailbox. Plenty gets addressed there (or on Telegram if you prefer), but the analyzes (whether short or long format, depending on market action) over email are the bedrock.
So, make sure you’re signed up for the free newsletter and that you have my Twitter profile open with notifications on so as not to miss a thing, and to benefit from extra intraday calls.

Let’s move right into the charts.

S&P 500 and Nasdaq outlook

The S&P 500 is likely to continue attempting to take on 4,040, which can succeed only after 4,010 becomes a solid support. We aren’t there yet, but the trend is still up – no top has been made. 3,980 is still first support.

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