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A very strong move in the S&P 500 index!
The S&P 500 recorded the fastest rebound in nearly 45 years.
In just 11 days:
- The Relative Strength Index (RSI) rose from below 30 to 70.
- The index increased by +9.9%.
- Added more than $6 trillion to market capitalization since the March 30 low.
This is the second fastest transition from "oversold" to "overbought" since August 1982, when it happened in just 6 days.
The index also hit a new record level above 7,100 points.
This rise was driven by expectations of de-escalation in geopolitical tensions, before tensions resumed with Iran re-closing the Strait of Hormuz, making Monday’s market open a critical point to determine the next trend...
$US50050