Revealed:
The S&P 500’s rebound ran out of steam on Tuesday, with the index once more developing wanting closing on the 7,000 milestone, as traders await information on U.S. jobs and inflation.
Whereas the S&P 500 SPX briefly eclipsed its earlier document shut, it retreated intraday and ended the session with a 0.3% loss at 6,941.81. The index has encountered some resistance in current weeks that’s prevented it from closing on the 7,000 stage, with weak intermediate-term momentum performing as a headwind to a breakout, in response to Fairlead Methods founder and chartered market technician Katie Stockton.