SP500 - Sell Off After Jobs Number StockMarket stockmarketcrash stockstowatch
The market looks like it is going to head toward the 3600 level, as the selling pressure seems to be relentless.The S&P 500 is suffering at the hands of what’s going to be higher interest rates and of course the strengthening US dollar, as well as a significant amount of problems around the world when it comes to global growth. If there is no global growth, then obviously corporate profits are going to take a bit of a beating.
If we get anywhere near there and for some type of exhaustion candle I think that a lot of people will be willing to start shortening.rising over the course of time in the United States continues to work against the value of stocks, and I think that’s the main play between now and the end of the year.
As the United States is almost certainly going to head into a recession, it does make a certain amount of sense that the stock market follows right along with negativity.is somewhat telling, and the fact that we are closing toward the very bottom of the range suggests that we have further to go as well. The attitude of the market remains very sour.
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