S&P 500: Buyers could step in if S&P 500 can break its 50-day EMA next week

 



The S&P 500 bounced off the 4,337 support level but continues to be stuck under its 50-day EMA. J. Powell's hawkish tone at his opening speech at the Fed's Jackson Hole summit on Friday was not a surprise. The fact that inflation continues to remain high, per J. Powell, making the bear's argument that the U.S. economy would grind to a halt anytime soon, is invalid.

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