This comment is spot on, and I think it's important to remember
that the Fed is just getting started. Matt mentions that it's
important for 4150 to hold on the $SPX. It might, for the short
term, but longer term downside could easily extend to 3815, 3505,
and even 3392. The first two are 38.2 and 50% retracements of the
whole move off the bottom in March 2020. 3392 would put the S&P
500 back to its former high, from before the Covid crisis. I know
these numbers may seem extreme, but as I said, the Fed is just
getting started. Rule #1: Don't fight the Fed!
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This comment is spot on,
Lots of money made in the commodities and related stocks ...
Posted by pkrsek on 5th of May 2022 at 11:27 am
This comment is spot on, and I think it's important to remember that the Fed is just getting started. Matt mentions that it's important for 4150 to hold on the $SPX. It might, for the short term, but longer term downside could easily extend to 3815, 3505, and even 3392. The first two are 38.2 and 50% retracements of the whole move off the bottom in March 2020. 3392 would put the S&P 500 back to its former high, from before the Covid crisis. I know these numbers may seem extreme, but as I said, the Fed is just getting started. Rule #1: Don't fight the Fed!