Market Report May 19 2022

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Market Report for May 19 2022

S&P and Nasdaq

Market change

Comments:
Wednesday was an important day for our assessment which had a heavy sell-off session. Price for the main markets are still between a resistance and support level but certainly very much bearish.

Intraday market

Each of the major indices dropped at least 3.5% amid the inflation concerns. All sectors ended the day in the red and did most stocks.

We are still mainly standing aside holding cash and watching but have opened a short position on a stock yesterday.

 

Let’s go trade!