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Indecision Grips The S&P 500 Amid Rising Misery Index

By Candy MathesonStock MarketsJan 27, 2022 02:03AM ET
www.investing.com/analysis/indecision-grips-the-sp-500-amid--rising-misery-index-200616111
Indecision Grips The S&P 500 Amid Rising Misery Index
By Candy Matheson   |  Jan 27, 2022 02:03AM ET
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I last wrote about the SPX and the Federal Reserve here.

The high-wave candle forming on the following weekly chart of the SPX indicates indecision by investors.

It's formation, thus far this week, follows Wednesday's FOMC interest rate statement and Chairman Powell's press conference...about which I wrote in the above-mentioned article.

As of Wednesday's close on this weekly candle, the Balance of Power is slightly in favor of the buyers.

However, with very little price movement to the downside, that balance can shift in an instant.

It's one indicator worth watching, especially into Friday's close this week, and beyond.

S&P 500 Weekly Chart
S&P 500 Weekly Chart

With the Misery Index on the rise, we're likely to see high volatility continue in both directions in all markets for the foreseeable future and into 2023, and beyond.

The Misery Index is currently at 10.94.

My post entitled SPX: The Blowoff Phase Has Begun describes the factors affecting these moves and provides links to a variety of my articles for further insights, as well as price targets and support/resistance levels for the SPX...all worth a read.

You can read about the Misery Index here.

U.S Misery Index
U.S Misery Index

Source: MiseryIndex.us

Jan 2022 Misery Index
Jan 2022 Misery Index

Baker Quote
Baker Quote

Indecision Grips The S&P 500 Amid Rising Misery Index
 

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Indecision Grips The S&P 500 Amid Rising Misery Index

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