Nasdaq, Dow and S&P 500 Test Support as Rates Climb

The S&P 500 finds itself on the back foot as well as traders continue to bounce around after the breakout. The 7,600 level is an area that a lot of people will be watching, as it was a major resistance barrier previously, and then we broke out of it. Now the question is, will it hold, especially now that the 50-day EMA is sitting right there as well? Overall, this is a market that continues to be bullish despite the fact that the last couple of days haven’t felt good. And the reality is that overall, the chart goes from the lower left to the upper right, and at the end of the day, that’s all that matters.

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