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US Equity Indices Break Below Key Technical Support, Search For Powell-Put-Strike

US Equity Indices Break Below Key Technical Support, Search For Powell-Put-Strike

Omicron lockdown concerns? Build Back Better blown up? Taper Tantrum?

Take your pick at the narrative driving markets, but for now, all the majors have broken below key technical levels.

S&P broke below its 50DMA, Russell 2000 remains well below its 200DMA, Nasdaq broke below its 100DMA, and The Dow broke below its 100DMA…

As a reminder, 2018’s plunge was 20% before the Powell Put strike was discovered…

For now, rate-hike odds are unphased by the stock market’s fall…

What will it take this time?

Tyler Durden
Mon, 12/20/2021 – 10:10

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