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S&P500′ rollercoaster

Despite the S&P500’s firm 1% gains on Thursday after a 2% loss intraday, the markets sagged on Friday after a real rollercoaster ride in the New York trading session. The S&P500 got support yesterday on the downside to the 50-day average due to robust data, but could not tear away from it. The pressure intensified late in the day on Thursday, which continued during the Asian session.

S&P500′ rollercoaster

The outcome of the fight for the 50-day average could be the beginning of a big move next week, potentially determining the mood for the whole of February. The DowJones and DAX30 are also struggling for their 50-day averages.

Such uneven dynamics is often a precursor of the end of a market cycle. The higher volatility of stocks in recent days dramatically increases the chances of a deeper correction. It is often a sign that the previous trend is exhausted.

S&P500′ rollercoaster

The FxPro Analyst Team


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