Do you trade S&P? Look for value in order to get long and do not jump in with both feet right away. Get the full daily forecast here: stockmarket Forex
It is very interesting to see how the market has been pushing to the upside, despite the fact that we have a lot of inflation in the United States. Nonetheless, it appears that Jerome Powell blinked a bit during the trading session on Tuesday as he spoke in front of Congress.
Ultimately, this is a market that has seen a lot of support at the 50 day EMA and the uptrend line underneath. The 4600 level has also offered support, so at this point in time I believe that it is only a matter of buying dips just as we have seen multiple times. That being said, if we can take out the highs of the trading session on Wednesday, then it is likely that we could go looking towards the 4800 level.
I think the one thing you can count on is a lot of noise, so look for value in order to get long and do not jump in with both feet right away.
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