Can Stocks $SNAP Out of It? | Stock & Commodities Technical Analysis Midday Market Minute | 5.24.22

Posted: May 24, 2022, 1:13 p.m.

$SNAP Earnings after the bell yesterday brought the equity markets off their highs, bringing us back into a rebuilding phase. Today, the S&P took out Friday's settlement price, stopping at our second Major 3-star Support, 3872. Are the markets expecting the Fed to take a less hawkish tone?


More SPR release rhetoric is coming out of the White House, but Crude Oil is remaining constructive. API after the bell, EIA tomorrow, could that be the catalyst to break out to contract highs?

Metals are off to the races. Gold, Copper, Silver, 10-yr Future & the Yen are all showing Inverse Head & Shoulders, while the US Dollar is showing a Head & Shoulders.

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