S&P 500 Correction Starts

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ValueWalk

S&P 500 rejected further upside, and is ready for correction within this upswing – the correction characteristics would determine the path forward as hearing Bullard talk two more rate hikes wasn‘t something the market had discounted. 2y yield rose to 5.40% , and 10y is above the midpoint of its recent range at 3.72% – yet stocks are holding up so far, and especially tech, Big Tech is ignoring the glaring disconnect to TLT – these two usually go hand in hand, but GOOGL, MSFT and AAPL with NVDA are still holding up. Talking the last two, there is some short-term technical vulnerability (as in s…

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