Review for US stock market on February 4, 2021


S&P 500 (daily time frame):

A reversal candle is seen on the daily chart.

However, there are no new reasons to increase. This is because everything has been used up – against the backdrop of the new US President and his $ 1.5 trillion program to support the economy, as well as the Federal Reserve's decision to continue injecting $ 120 billion to the economy for a long time.

But it is still fair to note that there is every reason to make a good correction to be able to buy later at much better prices. All one need is just a reason.

Perhaps, the publication of new employment data today at 13:30 Universal time will provoke this.

We'll carefully monitor what will happen.

The material has been provided by InstaForex Company -