Bearish Reaction to Economic Data
Are rate cut hopes diminishing further after payroll data is showing a resilient economy? Some volatility in the major indices occurred once the data was released.
![Bearish Reaction to Economic Data](https://ussnsimg.moomoo.com/feed_image/70107943/3bb9795ee6a53d50be66e30bc4d1e042.jpg/bigmoo)
If the economy continues to show strength, then the Fed will not be cutting interest rates in March.
![Bearish Reaction to Economic Data](https://ussnsimg.moomoo.com/feed_image/70107943/3d9e4b3ed9d238449b97e6333023b57f.jpg/bigmoo)
Yields shot up after the data release. This will bring up the dollar and put pressure on equities.
![Bearish Reaction to Economic Data](https://ussnsimg.moomoo.com/feed_image/70107943/24af7d13d3be33058abe71b7fc3baa4b.jpg/bigmoo)
It looks like this selling is happening near a short-term technical level. The negative catalyst in the economic data appears to be causing a rejection of resistance in the short-term price channel SPY has been traveling within for several weeks.
Is this data that bad? Will the market sell off substantially? Or is this just a regular dip before the market takes off again?
![Bearish Reaction to Economic Data](https://ussnsimg.moomoo.com/feed_image/70107943/0f1b63bd684d3b1dae8040523d5fd4d8.jpg/bigmoo)
![Bearish Reaction to Economic Data](https://ussnsimg.moomoo.com/feed_image/70107943/7450b731010d3611ab6973f9e628a34c.jpg/bigmoo)
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