The S&P 500 started the year at a record high after a 27% rally in 2021. This upward trend is breaking, with the main stock benchmark falling by more than 3% since the beginning of the year is on track to mark another weekly decline after breaking the 50-day moving average yesterday. This will mark the first subsequent weekly declines since early December.
“We are in a situation where everything that has been positive for equities so far can move towards neutral or even negative sentiment, and although there are still few alternatives to cash capital, this makes the stock market Gather for greater volatility and instability over the next few months, we see economic data shake the markets and the Fed’s response, “said Sarah Hunt, portfolio manager at Alpine Woods Capital Investors.
The key support index before the start of the trading session, which will determine the next move.
Head of Trading Dimitar Kalapov