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20 Apr 2022 • Daily News • Less than a min

Stock Market Rises Despite Rate Concerns

The stock market rally got a boost Tuesday, closing near session highs after showing slight weakness. S&P 500 is now testing the 50-day EMA and a break above it will mean reaching the 4500 level. The market breaking over the 4500 level opens the door to a move to the 4600 level, but that level is difficult to reach at this time.

The markets seem to be grappling with the rate hike situation in America. Two back-to-back US inflation reports also took center stage in the investors’ minds this week. 

Monday saw the stock market reaching the 4360 handle and further weakness will open up the 4350 level, then 4100, April’s low. 

Stocks will face fewer obstacles to extend their recovery if the positive pattern consolidates in the following days and weeks. However, with major headwinds working against the stock market and causing selling pressure and exhaustion, it is crucial to be very cautious and keep your position size minimal. 

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