Growth stocks plunge again, SP500 has the upper hand in bearish
Technology stocks sell off again, SP500 falls again
Investor are suggesting to trade with a buy order in light position in price now,target on 4350, stop loss on 4400.
In an interview with CNBC, Ark Invest CEO Cathie Wood said, the firm’s technology sector portfolio, which focuses on “disruptive innovation,” is severely undervalued, and said the recent sell-off in the Ark Fund was only temporary,she believes that the threat of inflation to growth stocks will eventually end and that deflationary forces are coming.U.S. mortgage rates soared to 3.92% in last week, it was the highest since May 2019, which will continue to pressure on technology stocks.In summary,investors are suggesting to trade with a sell order for SP500 as its main idea
In the daily K-line chart,the price is located on the lower rail of Bollinger and below all MA moving averages, indicates a bearish situation.The sub-indicator MACD increases short momentum and KD double line down,it is conduciving for investors to trade with a sell order.
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