- The S&P 500 broke below key resistance yesterday
- In the short term, inflation and interest rates will keep driving prices
- That, however, shouldn’t drive your decision-making, as earnings and dividend growth should remain critical factors in the long run
Markets have begun to retrace after rebounding from the June lows. The S&P 500’s 4160 area was a key resistance, overlapping static support with the 200-day Moving Average on the daily timeframe. From the chart below, we can see that yesterday’s breakout occurred at that level.
SnP500_24.08.png
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