US500 Short because of fundamentals
Yesterday Fed announced rate hikes by 0.75%.
Market reacted with longs due to 'smaller than expected hikes', but for my opinion it's absurd and if you look at the 5th May the same happened. Rapid growth and at the next day rapid fall because the fact of the increase of Fed rates means that US500 should go downside.
I expect the drop at least to 3980, but in longer run I expect the break of recent lows at 3600.
Market reacted with longs due to 'smaller than expected hikes', but for my opinion it's absurd and if you look at the 5th May the same happened. Rapid growth and at the next day rapid fall because the fact of the increase of Fed rates means that US500 should go downside.
I expect the drop at least to 3980, but in longer run I expect the break of recent lows at 3600.
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