How long will the US stock market grow
2022.12.13 14:02
How long will the US stock market grow
Budrigannews.com – Yesterday’s gain of 1.43 percent marked the broad stock market index’s highest level since Tuesday. It reversed course last week on Monday after a positive reading, falling as low as 3,918.39 on Tuesday (down from its local high of 4,100.51 the previous week).
The market will be presently sitting tight for tomorrow’s . It actually seems to be a weeks-in length union inside an upturn. However, as can be seen on the daily chart, on Tuesday of last week, the index fell below its upward trend line that had been in place for two months:
Let’s take a look at the contract’s hourly chart. On the inflation release, it broke above the previous local highs. The most recent resistance level marks the 4,050-4,100 support level.
After a consumer inflation report that came in lower than expected, stocks are about to open much higher this morning. Therefore, it is likely that the S&P 500 index will reclaim above 4,000. There will likely be even more volatility ahead of the significant FOMC release tomorrow.
Yesterday, the S&P 500 index was close to the 4,000 level, and today it will break above that level.
Stock costs might continue their two-extended upswing.
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