Expect some nervous jitters. This is a big rate hike for them.
PRE-OPEN MARKET COMMENTS TUESDAY – Last Friday the market seemed content with the jobs report and the lower than expected hour wage component. After 2.5 hours of trading, the bottom fell out and the S&P 500 reversed almost 100 points. The upward sloping D1 trend line and horizontal support at SPY $390 were tested a second time. This will be a nervous week for the market as the ECB prepares to hike rates 75 basis points on Thursday.
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