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At the closing bell, the S&P, Dow, and Nasdaq recorded losses, down 0.28%, 0.08%, and 0.42%, respectively.) price spiked to a daily high of $71,585, and then proceeded to dump to $69,275 before ultimately returning to $69,770, where it trades at the time of writing. “This dovish tone, especially given that the last CPI print was a bit above analyst forecasts, was enough to give some bullish momentum to risk-on assets,”market analyst Bloodgood. “As for the next FOMC on 1 May, the market is currently pricing in only an 8% chance of a cut, meaning that we’ll probably have to wait at least until summer for rates to start moving down.”
“I remain patient and will wait for more signals which will show me the direction we are headed,” Bloodgood said. “A weekly close above $70k would be a good start, a weekly close above the current high would be extraordinary.”
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