The monetary markets stay unstable as inflation, provide chain points, and critical geopolitical occasions cloud the rapid future.
This volatility has manifested itself right into a bearish descending triangle on the broad U.S. inventory market index the S&P 500.
Wanting on the chart above (of the S&P 500 ETF $SPY), we will see this triangle formation. Notice the peak of the final rally by way of the higher crimson arrows, in addition to the foremost worth assist space at line (1).
Is the inventory market selloff over?
Nicely, this assist line could very properly be our inform. If assist at (1) fails to carry, a “measured transfer” means that the S&P 500 ETF might fall one other 8 % to (2).
A transfer like this could additional rattle the monetary markets and maybe your portfolio. Keep tuned!
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