The S&P 500 strongly rejected the 200 day MA today following statements by Fed Chairman Jerome Powell of potential upcoming rate hikes to help tackle rampant inflation. Which gave the market the excuse it needed for a selloff at the key level of the 200 day MA in the S&P 500 and the Dow Industrials, while the Nasdaq Composite and Russell 2000 Small Caps rejected their 50 day MAs.
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21 April, 2022