Market Volatility: Cautious Approach Advised Amid Mixed Signals

The price of a particular asset remained resilient despite recent market turmoil, finding support at the 21340.75 level. While technical indicators show mixed signals, with MACD generating a bearish signal and RSI remaining positive, a definitive bottom cannot be called yet. The analyst advises observing price action in European and US trading sessions for clearer direction. Potential bullish setups include the price testing and holding 21340 again or pushing above 21608.

Alternatively, a break below 21340 without reversal could signal a bearish trend. The analyst notes that the recent market decline following the Fed's announcement was likely fueled by market positioning rather than a significant hawkish shift from the FOMC. The Fed's updated rate projections were not drastically different from market expectations, and the anticipated funds rate bottom is higher than the Fed's projections.

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Market Volatility: Is the US Stock Market in a Bubble?The article discusses the current state of the US stock market, highlighting the record highs of the Nasdaq, the Dow's recent losing streak, and the flat performance of the S&P 500. It analyzes the market's exuberance, potential for a pullback, and the attractiveness of traditional S&P 500 investments.
Source: NBCNewYork - 🏆 270. / 63 Read more »