Market Report for May 26 2022
The concerns of growth lingered around on Wednesday. The market tried to rebound from plentiful oversold technical indications and managed to close the session positive, after having been negative for the most part.
The market is managing to maintain support from the recent lows which we partly were expecting, as mentioned on the webinar. The question is, now the market has had time to digest the Fed minutes, how will it react today?
The Fed minutes yesterday indicated the officials are willing to move ahead with multiple 50 basis points rate hikes.
Today the market has the second estimate of Q1 GDP alongside some other news items to look forward to.
Let’s go trade!