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S&P 500: Bulls Are Coming Back?

Apple Bounced From the $170 Price Level.
Last week, Apple stock broke below its two-month long upward pattern line after reaching the brand-new record high of $182.94 on Tuesday. Far, it looks like a down correction and the nearby important support level is at $165-170, marked by the previous highs and lows. The stock trades within an over month-long debt consolidation of around $170-180.
Is this a medium-term topping pattern? Its getting extremely hard to fundamentally justify the Apples present market capitalization of around $3 trillion.

Conclusion.
The S&P 500 index is expected to open 0.4% higher today following the Consumer Price Index release which was somewhat greater than expected at +0.5% m/m. So the broad stock market will backtrack more of the current decreases. We might see a revenue taking action later on in the day.
Heres the breakdown:.
The S&P 500 extended its short-term uptrend the other day. It may be still a correction within a drop or some additional consolidation along the 4,700 level.
In our viewpoint no positions are presently justified from the risk/reward perspective.
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Thank you.
Paul Rejczak,.
Stock Trading Strategist.
Sunlight Profits: Effective Investments through Diligence and Care.
The details above represents analyses and opinions of Paul Rejczak & & Sunshine Profits partners just. It might prove incorrect and be subject to alter without notification. At the time of writing, we base our viewpoints and analyses on truths and data sourced from respective essays and their authors. Formed on top of careful research and reputably precise sources, Paul Rejczak and his partners can not ensure the reported datas accuracy and thoroughness. The viewpoints published above neither suggest nor use any securities deal. Mr. Rejczak is not a Registered Securities Advisor. By reading his reports you fully concur that he will not be held accountable or responsible for any decisions you make relating to any information supplied in these reports. Investing, trading and speculation in any financial markets may include high danger of loss. Paul Rejczak, Sunshine Profits staff members, affiliates as well as their relative may have a long or short position in any securities, consisting of those pointed out in any of the essays or reports, and might make additional purchases and/or sales of those securities without notice.
Upgraded on Jan 12, 2022, 2:56 pm.

The broad stock markets gauge extended its advance following Mondays upward reversal from the regional low of 4,582.24. The broad stock market continues to trade within an over two-month long consolidation. Last week, Apple stock broke below its two-month long upward trend line after reaching the brand-new record high of $182.94 on Tuesday. The broad stock market will backtrack more of the current declines. Subscribe for our everyday newsletter today, and youll get 7 days of FREE access to our premium daily Stock Trading Alerts as well as our other Alerts.

Q4 2021 hedge fund letters, conferences and more Another Strong Year For Read MoreThe S&P 500 index gained 0.92% the other day, as it got back above the 4,700 level. The broad stock markets gauge extended its advance following Mondays upward reversal from the regional low of 4,582.24. The broad stock market continues to trade within an over two-month long consolidation.
On Dec. 3 the index was up to the regional low of 4,495.12 and it was 5.24% below the previous record high. It was a quite mild down correction or simply a debt consolidation following last years advances.
The nearby crucial resistance level is at 4,700-4,720 and the next resistance level is at around 4,750. On the other hand, the support level is at 4,650. And the essential assistance level is now at 4,580-4,600, marked by Mondays everyday low. The S&P 500 is close to its November-December local highs again, as we can see on the daily chart (chart by courtesy of http://stockcharts.com):.

Stocks backtracked some more of their current declines on Tuesday. Will the marketplace continue greater following todays customer inflation information?

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