The stock market, as measured by the S&P 500 Index SPX, has failed to conquer resistance at 4200. That is bearish, and SPX has backed off sharply due to the fact the most the latest endeavor to challenge 4200 transpired late previous week.
That endeavor was spurred by constructive earnings from Meta Platforms META and other individuals. Now the focus has shifted to fascination premiums and inflation once once more, and that is bearish. So, SPX has pulled back again and seems to be like it at the time again is going to problem assistance in the 4050-4070 variety.
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