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S&P 500 decline on the disappointing CPI – especially core inflation points at more to come, and the better PPI figures don‘t make up for that. So, stocks reversed sharply lower – but not before our profitable long position was closed – and the tone for the rest of the week was set. Friday though was marked by buying the dip in the second half of the session, and the risk-on turn in bonds facilitated that. I wouldn‘t though be getting too carried away with the reversal as the bears haven‘t said the last word – I consider the rebound on high volume as a temporary reprieve in selling only. Q2 20...
ValueWalk
Stocks extended their downtrend yesterday, but they rebounded and closed positive. So was it an upward reversal or just another upward correction? The S&P 500 index gained 0.57% on Monday after falling to the daily low of 4,062.51. It was the lowest since last year’s May. The market reacted to the quarterly earnings, poor economic data releases, Fed’s monetary policy tightening plans and Ukraine conflict. Stocks reversed their intraday decline and it may look like a more permanent reversal. However, there have been no confirmed positive signals so far. This morning the S&P 500 index is expecte...
ValueWalk
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