Risk Mood reserves caution to start the day – Tradingview News

The S&P 500 Futures sank by 0.4% today because yesterday's recovery fell a little in the new day. Tech shares are those who stay behind because the risk mood after the strokes of last week is still in a narrow place. There were four weeks of losses in a row for Wall Street and that will be the harder mood to shake off in the overall picture.

S&P 500 Index Weekly Chart

The S&P 500 broke off its most important trendline support at the beginning of this month, but DIP buyers held back to 5,500 levels, as can be seen last week. This is an important downturn in the focus if the sale should return this week.

Despite yesterday's bit parts, jitter on the market in the middle of the latest “correction” or “transition” are still jitter. If the legislators use such terms, it definitely has some weight. This in particular in view of the fact of how Trump has become this market since the end of the year.

Apart from that, this is a day and an age in which the market participants can easily switch from fear to greed. Bad news can be recorded quickly and then forgotten in just a few days. DIP buyers are already waiting to overthrow themselves to a certain opportunity, although less than 10% of the tip shave.

All eyes will be on the Fed in the next two days to see how the latest economic and political developments have affected their prospects.

But if we continue to go through this moment, the US data will be decisive to keep the general market mood. This week itself will not see much with the weekly unemployment claims on the agenda. So all the eyes will come to the Fed before it changes to monthly and quarter-end streams next week.