Whether the S&P500 can safeguard the 6500 support really depends on how the war pans out and the price of oil and gas. No one has any control of this and cannot predict if the war would escalate or de escalate. If the war escalates, fears of recession and inflation and even stagflation would rise and many might just sell and flee to safety. If the war successfully de escalates, I think a rebound will happen.
I’m neutral at this point as I would prefer more price action before deciding. Although prices have slipped, it has not reached a compelling buy as it came down from relative highs. The Fed is not in a rush to rescue the market as inflation is expected to rise with the higher oil prices that influence not just energy but also other industries like the fertilisers.
I would prefer to keep my dry powder for greater discounts before buying for investment. I have however done a bit of swing trading for some quick profits.
S&P 500 Lost 4% in Mar.! Is Correction Over or Just Halftime?
Wall Street ends down as traders see no rate cuts before 2027; Dow Jones down 0.44%; S&P 500 down 0.27%; NASDAQ down 0.28%.
Market experienced another selloff yesterday with bleak rate cut vision and escalating tensions.
Can S&P 500 safeguard 6500?
Is the correction over or not?
Would the tension escalate to war?
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