Markets worldwide have sold off with another rate hike of 0.75% 2 days back. The Fed has pledged to tame inflation aggressively even if it were to lead to economic pain.
Any decision to buy or sell should be based on 20 days Moving Averages. Just watch out for Dow Jones support level at 29,000. Nasdaq support level is at 10,500 while S&P support will be 3,600. More major sell off is expected once these support is broken..
Here’s another view coming from Goldman Sachs strategist David Kostin.
Resetting expectations: "The forward paths of inflation, economic growth, interest rates, earnings, and valuations are all in flux more than usual with a wider distribution of potential outcomes,”
On that note, the bank slashed its year-end target for the S&P 500 to 3,600 from 4,300, and said the benchmark could even fall to as low as 3,150 in the event of a serious recession.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
aizsxxx
2 posts
Posted by aizsxxx > 2022-09-21 12:29 | Report Abuse
where is paktua? already gone when the price is break ema 20?? so funny oldman...where ur tp 1.3 lol??