Wednesday, May 31, 2023

We have a debt ceiling deal, where's the relief rally?

Mid-week market update: Is this a case of buy the rumor and sell the news? We've had the news of a debt ceiling deal and it appears that the bill will have enough votes to pass the House today. But where's the relief rally?
The S&P 500 continues to struggle with resistance at the 4180-4200 level. A decisive upside breakout would see the next resistance at 4300-4310, but the relief rally seems to be fizzling,

The full post can be found here.

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