SPX: Bounce at Apr 2021 gap (4022-4033) Long

S&P 500SP

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⋅ May 2, 2022 6:48 PM

Rationale for bull case:
1. Extreme bearishness - worse than March 2020 levels
2. RSI near oversold
3. FOMC meeting on Wednesday, sell on rumor, buy on news. 50 basis points hike priced in.
4. Peak inflation likely to be reported

Trend Analysis S&P 500 (SPX500)

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