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S&P 500 Technical Analysis - The risk of a reversal is high

This first half of the week was highlighted by big misses in the US economic data like Job Openings, Consumer Confidence and ADP. These might be the first signs that a recession is indeed on the horizon as the labour market is starting to show weakness. In fact, the market is no longer seeing the Fed hiking interest rates as the September and November probabilities dropped further and the rate cut expectations were brought forward. Nonetheless, despite the worrying data, the S&P 500 rallied stro... Read More

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Content Topics

Technical

Analysis

Risk

Reversal

High

Forex

Posted: Aug 31 2023, 08:16

Author Name: forexlive

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