Wall Street

Decision Time

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ValueWalk

S&P 500 declined, within the existing narrow range, but more downside is likely to come. Bonds continue pointing lower, commodities are squeezing, yields aren‘t meaningfully retreating, and inflation keeps biting. (…) So, stocks are still facing the tightening Fed phase, not yet smelling the Fed pivot – the downside can reach further still, and the new battle for 4,080 is approaching. Odds are we would head that way before mid-session tomorrow – today, I‘m looking for a lackluster, paring the gains, session in stocks. And that holds true for precious metals as well – Monday‘s decline was duly …

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