I felt the need to spotlight the markets' move today. Dow Jones Industrial Average is down almost 575 points. S&P500 pulled back -1.53% while Nasdaq -1.25%.
Fed Chair Jerome Powell is in the Capitol today for his 2-day hearings with the House and Senate. The Chair signals more rate increases in higher increments to manage inflation.
This event triggered the markets for a pull back ride with the Real Estate and Financials sector bearing most of the brunt, down -2.5% and -2.45%, respectively.
Events like this is not all bad news for traders. To some of us, this presents opportunity to buy our favorite equities at a discount. Tesla slid over -3% while Apple retreats almost one and a half point.
Bitcoin slid to 22,048 from 22,376 yesterday.
The S&P500 pretty much stayed in one big down trend channel after that big dip after open.
You only lose if you don't have a stop loss. Cheers Traders.
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I am not a professional investment adviser and my opinions are based on my own technical analysis. Please consult an investment professional before making investment decisions.
Do your due diligence if or when placing a trade. All ideas stated here are my own and do not represent trading or investment advice.