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USA30 – Triangle Pattern Signals End Of Rally

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The Russell 2000 and US stock indices have advanced substantially since the beginning of this year. This is a sign that there is optimism for American equity markets. But, how long can it last? Analysts believe that stock indexes will continue rising in the next months, and that the recovery will accelerate. However, the pressure on consumers by the rapid rise of interest rates tells another story. Recent data shows that retail sales are down, leading companies to announce layoffs and cut prices. There is no way to rule out the possibility of a recession, worsening economic fundamentals, or a hard landing.

On Tuesday, the stock index closed higher +0.31% Before the mega-cap tech company’s quarterly earnings results. Long liquidations in stocks weighed on the broader market on concerns that market expectations may be too optimistic about the tech companies’ Q4 earnings. And Tuesday’s negative corporate earnings news weighed on stock indexes. The Tech 100 Was down -0.22% As an end note, Enphase Energy fell -3.93%. The same time, there are S&P500 Edged down -0.07%, With 3M Tumbling -6.16%. However, Dow Jones Increased levels of 0.31%.

Technical Analysis

On Tuesday USA30 rose to a high of Continue reading…

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