On the macro front, the slowing labor market data has increased the likelihood of a rate cut. Currently, the market sees a 99.5% chance of a 50 basis point cut by the Fed in September. Some traders even believe there’s about a 60% chance of an emergency 25 basis point cut within the week.
Technically, S&P 500 index has already broken below the downtrend line, and dropped to a key support area with high volume. And the previous high double confirmed the strength of this support area.
Therefore, the price might get a short-term callback in this area today if it cannot be broken.
Make sure to hit that follow and boost button so you won't miss any updates.
Technically, S&P 500 index has already broken below the downtrend line, and dropped to a key support area with high volume. And the previous high double confirmed the strength of this support area.
Therefore, the price might get a short-term callback in this area today if it cannot be broken.
Make sure to hit that follow and boost button so you won't miss any updates.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.