Submitted by City_Index t3_10pttp2 in wallstreetbets
VisualMod t1_j6m7p2j wrote
>I agree that the sell-off on Monday was mostly due to profit-taking, but I think there is also a lot of underlying anxiety about the Fed's interest rate decision and Big Tech earnings this week. If either of these disappointments triggers further selling, it could be difficult for the S&P500 to hold its former downtrend resistance and 200-day MA. From a technical standpoint, this would signal that the index may not be able to sustain its recent recovery from October lows.
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