S&P500 post FOMC sells 📉📉📉

Hello, good day traders! 👋🤙

I'm looking for a potential sell 📉 setup for $S&P 500 Index (.SPX.US)$, with both fundamental and technical indicators to back it up.

📰Fundamentally,

- Stocks tumbled Wednesday after Federal Reserve Chair Jerome Powell said inflation was still too high and indicated that the central bank has more rate hiking ahead.

- The Fed implemented another 0.75 percentage point rate increase Wednesday afternoon, and Powell said in a press conference that its inflation fight was far from done.

- Dow closes 500 points lower, Nasdaq sheds 3%, S&P 500 dropped 2.5%

🤔On the technical front,

1.) Looking at the H4 chart, looking for a sell at 3805.83, where the 38.2% Fibonacci line and 50% Fibonacci lines are located.

2.) I have a pretty safe stop loss set at 3924.30 where it is slightly above where the 38.2% Fibonacci line and 50% Fibonacci projection lines are located.

3.) I am looking to take profit at 3636.87 where the previous low and 78.6% Fibonacci projection line is located.

Trade Entry recommendations:

Sell Entry: 3805.83 📉

Take Profit: 30775.37 💲

Stop Loss: 3924.30❌

Other tickers to recommend:

For 5x Long Leverage: $S&P 5xLongSG250228 (CUEW.SG)$

For 5x Short Leverage: $S&P 5xShortSG250228 (CXBW.SG)$