December 8, 2022

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US equities spill lower as negative pressure builds

1 min read

The pressure remains on

The S&P 500 is down 28 points at a fresh low at 2394. That erases about half of yesterday’s gain and is a test of the old July top, which is now offering support.

Technically, that’s a textbook re-test after a breakout but it needs to hold. Looking across markets, the 10-year is holding 1.23% so I’m optimistic.

The pressure remains on

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