S&P 500 has failed above the 3692 support. Market selling may continue as inflation has become so imbedded into global economies, reflecting confused fiscal and monetary policies and its inability to grasp the seriousness of the problem.
Chart 2
The S&P 500 has failed to hold above its 3692 support, please refer to this post on lieu bank earnings that juiced the market, the inflation reality, as discussed, kicked in and the market old off. Note Chart 1 with the hedge between long and short and the loss on the long position and gain on the short. Refer to Chart 2, with the 10 YR yield (yellow line) bouncing up to 4.14%, with the market pricing in the Federal Reserve given 75% basis point trigger for their November meeting, will crimp and sell of growth stocks. Not to mentioned the economic mess the U.K. is in, with the Bank of England frantic behavior in trying to stabilize bond markets before they hit a large rate hike on 3/11/2022. A very good example of how disastrous fiscal and monetary polices can be when they merge with populism, with the worst inflation in over 40 years.
And for good measure. Chart 3
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