Weekly Recap & Market Forecast $SPX (Nov 17th—> Nov 22th)

18 בנוב׳

SPX - Powell changed his narrative on rate cuts, He came out and said he doesn't expect any rate cuts next month because economy is strong and inflation is starting to tick up again. Market started to decline due to new narrative because small businesses desperately needs rate cuts and cheaper loans.

Next resistance: 6,003 and 6,017
Next support: 5,773 followed by 5,640

Weekly Sentiment: Bearish