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$4,380.08 is the Market’s Rebound Position

by Tom Luong, April 13, 2022
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The stock market has been on a downtrend ever since the Fed announced higher interest rates.

I’m watching everything like a hawk and will provide you with daily updates on how we’re faring.

Right now, all signs suggest that the market is itching for a short-term rebound.

The question is, will the market be able to rally higher and higher after rebounding…

Or will it hit resistance and start dropping lower?

It’s still too early to tell but with technical analysis, we can keep track of any major reversals.

Technical Analysis

S&P Loses Momentum

The S&P 500 hit a support level just below $4,100 on February 24, 2022.

Ever since that day, the market began rallying higher and higher.

However, on March 29, 2022… the upward trend made a full stop.

Ever since, we’ve been moving in a sideways correction…

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Now, it’s still too early to tell whether we’re out of the woods yet.

However, the market is finding support at $4,380.08.

If this level holds and the S&P breaks its downtrendline, we very well may see the market gap up higher.

I am ready and in position to take profits when that happens.

And I deliver my subscribers the exact trade recommendations, including entry price, exit price, and stop-loss.

If you’d like to start receiving this sort of trade alert, sent directly to you via email and text, click here.

Macro Trend Breakdown

10-Year Notes Are Moving Higher

When I want to keep track of inflation, I look at the 10-Year Treasury Notes.

It’s basically the “interest rate index” and gives us clues to how “bad” inflation is.

And right now, inflation is hammering the market…

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It’s currently near the 28 level.

We haven’t seen these kinds of numbers since December 2018!

It’d be wise to tread carefully right now and that’s why I’m always sending Stock Navigators market updates and trade recommendations - click here to get my updates and trades.

In this sort of market environment, the most profitable thing to do is play the market one day at a time.

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