S&P 500 ($SPX500) Technical Analysis The S&P 500 price yesterday broke the resistance downtrend line to the upside. This happened following the release of the US CPI inflation data that increased less than expected (7.7% vs. 8% expected). Wall Street celebrated. Stocks jumped higher. The S&P 500 Index closed up yesterday at almost 6%. The Nasdaq Index jumped over 7.7%. The Dow Jones Index rose over 4%. Both stocks and cryptos jumped higher yesterday because investors believe that inflation might have peaked and the FED will slow down the pace of rate hikes in the coming months. ...
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