S&P 500 has run out of momentum. Trade stocks here:
If we break down below the bottom of the candlestick for the trading session on Monday, then it is likely that we will continue to see this market be noisy, as the economic outlook for the entire world, let alone the United States, is shady at best. There are lots of concerns about inflation, supply chain issues, and geopolitics. At this point, I think you will continue to fade rallies as they show signs of exhaustion and give you an opportunity to do so.
There are a slew of earnings this week that could also come into the picture and cause a few headaches along the way.
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