S&P 500: Technical Rebound Faces Bigger Tests Ahead
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The S&P 500 rebounded on Wednesday, reclaiming losses from January 20 and hitting the 78.6% retracement level, largely driven by easing Greenland concerns and unwinding hedges. However, the analyst questions whether Greenland was the true cause of Monday's decline, pointing to potential impacts from Japanese Government Bond (JGB) sell-offs. The real test will come after the BOJ meeting concludes on Friday, as volatility remains relatively low with the VIX closing at 12.
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