The bearish continues...
The S&P 500 index for this week was bearish, with over 2.7% down to USD4,272 Friday closing on 22 April 2022. The 20EMA currently traded below 50EMA & 100 EMA. Hence, we could be seeing some further downside pressure towards the support level at USD4,167 or at Fibonacci “0” level.
The downside pressure was mostly due to the continuous upbringing of inflation rates, the inverted yield curve prophecy and the impending recession. IMO, the downside pressure HAD already priced in. Such movement could also be the result from market maker – where they are trying to scare off the retail investor into fear and sale their stocks. This also create chain reaction where leverage player also got caught into force sell their stocks.
Again IMO, now it is the best time to review your watchlist and dollar-cost averaging (long) into the stocks you like.
The downside pressure was mostly due to the continuous upbringing of inflation rates, the inverted yield curve prophecy and the impending recession. IMO, the downside pressure HAD already priced in. Such movement could also be the result from market maker – where they are trying to scare off the retail investor into fear and sale their stocks. This also create chain reaction where leverage player also got caught into force sell their stocks.
Again IMO, now it is the best time to review your watchlist and dollar-cost averaging (long) into the stocks you like.
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