S&P 500 Technical Analysis – The NFP brought some uncertainty into the market ...Middle East

Fundamental OverviewThe strong US NFP report last Friday led to some defensive risk sentiment in the S&P 500 as we head into the US CPI and FOMC decision tomorrow. In the big picture, the data didn’t change much but it added a bit of uncertainty into the market which is now waiting for the US CPI to clear it out. In case the US CPI comes out soft, we can expect the S&P 500 extending the rally into new highs. On the other hand, a hot report will likely trigger a selloff as the market will want to err on the cautious side into the FOMC decision. S&P 500 Technical Analysis – Daily TimeframeOn the daily chart, we can see that the S&P 500 reached a new all-time high recently around the 5385 level

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