Overvalued technicals on SPX until 3479
Significant breakdown from rising wedge even before interest rate decision and war implies the rally from 1/3 fib is only a combination of technicals and false hope in the hyperinflation narrative.
Looking to find support at inverse, two thirds retrace before any significant loss into Covid market territory as the virus seems like it is going away.
Hopefully this will lead to no more than 1% increase in fed interest rates medium term.
Looking to find support at inverse, two thirds retrace before any significant loss into Covid market territory as the virus seems like it is going away.
Hopefully this will lead to no more than 1% increase in fed interest rates medium term.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.