🔥 Moment Of Truth For The Markets: Take Note!

OANDA:SPX500USD   S&P 500 Index
Yesterday we saw another massive bullish move in the markets after the FED made comments about a pivot for the first time since the raising of the rates began. Note that they didn't announce a reduction of interest rates, but rather a reduction of the incremental increases from 0.75% to 0.5%.

As seen on the chart, the SP500 is currently trading right on the most important resistance line since the bear market began over a year ago. A rejection can signal another multi-month decline in the markets, while a break out can be the start of a move all the way towards the current all-time high, effectively ending the bear market.

Keep a close eye on the coming days. It's likely that we will see a minor bounce off this resistance, but most important will be if the bounce will get significant follow-through or not. Best case for the bulls would be a very big green candle right through the resistance. But until then, patience.

Side note: cryptos follow stocks. Bearish stocks will most likely mean bearish cryptos.

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