It was a relatively mixed trading week for the US stocks. Still, they have managed to finish the week in a positive sentiment. The S&P 500 finished the week at 4.415, a 1.5% higher from Thursday's close at 4.345. This move was supported by almost all sectors, but mostly by tech, which gained 2.6%. Although equities did not like Fed Chair Powell's speech, where he noticed that further rate hikes might not be over in case that inflation “reaccelerates” . Still, as the 10Y Treasury benchmark remained flat on Powell's comments, and the equity market rebound on Friday.
As per current charts, there is some probability that equities might continue Friday`s trend, at least till the level of 4.450, where historical resistance moment holds. A move toward the higher grounds does not seem probable at this moment. On the opposite side, the support at 4.350 might also be tested in the week to come.
As per current charts, there is some probability that equities might continue Friday`s trend, at least till the level of 4.450, where historical resistance moment holds. A move toward the higher grounds does not seem probable at this moment. On the opposite side, the support at 4.350 might also be tested in the week to come.
