S&P and QQQ break consolidation lows, turning near-term view more bearish

Thursday’s drop in Equities into Europe’s close proved far more decisive in steering the short-term direction to more bearish than what markets showed in recent days and both SPX and QQQ violated recent consolidation lows on Thursday.   The key catalyst revolved around the ECB’s hawkishness and specifically Lagarde, who warned that “We Will Not Pivot” Peripheral rates spiked, and this directly coincided with both Eurozone and US Stocks turning d...

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