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Stock Market Levels Hold As Volatility Surges

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The market is blowing the froth off the top of the market that retail investors had created with highly speculative stock purchases. Thursday’s massive market pullback was absolutely justified.

Jerome Powell and the rest of the dovish Fed have set their sights on 0-25 basis-point interest rate range for the next couple years. Still, Chairman Powell had a decidedly bleak outlook on the swiftness of the US’s economic recovery, alluding to the notion that the stock market needs to check its risk/reward levels. This led to the broader market drop off that we experienced on Thursday.

Keep your eye on the S&P 500’s 3,000 point level as it is being used as a support, and if we drip below 3,000, we could be in for another market breakdown.

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