🔥 Moment Of Truth For The Markets: Take Note!
Yesterday we saw another massive bullish move in the markets after the FED made comments about a pivot for the first time since the raising of the rates began. Note that they didn't announce a reduction of interest rates, but rather a reduction of the incremental increases from 0.75% to 0.5%.
As seen on the chart, the SP500 is currently trading right on the most important resistance line since the bear market began over a year ago. A rejection can signal another multi-month decline in the markets, while a break out can be the start of a move all the way towards the current all-time high, effectively ending the bear market.
Keep a close eye on the coming days. It's likely that we will see a minor bounce off this resistance, but most important will be if the bounce will get significant follow-through or not. Best case for the bulls would be a very big green candle right through the resistance. But until then, patience.
Side note: cryptos follow stocks. Bearish stocks will most likely mean bearish cryptos.
As seen on the chart, the SP500 is currently trading right on the most important resistance line since the bear market began over a year ago. A rejection can signal another multi-month decline in the markets, while a break out can be the start of a move all the way towards the current all-time high, effectively ending the bear market.
Keep a close eye on the coming days. It's likely that we will see a minor bounce off this resistance, but most important will be if the bounce will get significant follow-through or not. Best case for the bulls would be a very big green candle right through the resistance. But until then, patience.
Side note: cryptos follow stocks. Bearish stocks will most likely mean bearish cryptos.
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