Our mission is to help you obtain financial freedom. Checkout Our Youtube Channel Checkout Our Youtube Channel
Blog

April 5 S&P 500 Update – Strong Selloff From Kashkari’s Comments

Written By: ChartChamp

April 7, 2024

The S&P 500 was having a bullish day yesterday, but the entire markets had a steep decline once Kashkari said “If we continue to see inflation moving sideways, then that would make me question whether we needed to do those rate cuts at all.” This demonstrates the Fed’s ability to manipulate the markets with their words and actions. $SPY had a sharp selloff above the white resistance line, and is currently trading within the light blue channel again. $517 support was also lost on this move down, and it’s important to see if SPY climbs back above $517 over the next few trading days.

ChartChamp socials: https://linktr.ee/realchartchamp

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

QQQ Has Rebounded Around $502.60

QQQ continues trading within this range, and has rebounded from the lower end of this range around $502.60. I have $510.31 and $513.40 as my resistance levels ahead, QQQ has struggled to climb above the yellow trendline since Nov. 15.

Read More
Default Thumbnail

SPY Trading Near $601 Resistance

SPY continues to trade near resistance around $601, and has already formed numerous rejections this week. SPY is currently trading above the yellow resistance line, and I would monitor to see if the price remains above $600.83. So far SPY is looking bullish and could trade above $600 for the day.

Read More
Default Thumbnail

RGTI Hit $3.47 Resistance

RGTI has reached my resistance target at $3.47, and there has already been some selling at this price level. I would be cautious of a selloff here, I think RGTI likely has a pullback in the short term.

Read More
Default Thumbnail

QQQ Has Rebounded Around $502.60

QQQ continues trading within this range, and has rebounded from the lower end of this range around $502.60. I have $510.31 and $513.40 as my resistance levels ahead, QQQ has struggled to climb above the yellow trendline since Nov. 15.

Read More
Default Thumbnail

SPY Trading Near $601 Resistance

SPY continues to trade near resistance around $601, and has already formed numerous rejections this week. SPY is currently trading above the yellow resistance line, and I would monitor to see if the price remains above $600.83. So far SPY is looking bullish and could trade above $600 for the day.

Read More
Default Thumbnail

RGTI Hit $3.47 Resistance

RGTI has reached my resistance target at $3.47, and there has already been some selling at this price level. I would be cautious of a selloff here, I think RGTI likely has a pullback in the short term.

Read More