The S&P500 rebounded since June 20th until mid August on the basis that inflation had peaked and the pace of #ratehikes was going to slow. After the apparent reassurance on Friday by the #fed that they will keep fighting inflation by hiking #interestrates, the index has perfectly touched the 200 day moving average and seems to be heading down. Next technical stop, the 50 day moving average (3996 points). If breached, the following technical stop is the June lows at 3636 points.
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Source:Bloomberg
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