S&P 500’s Post-Fed Rally Collapses – Will 4,300 or 4,000 Fall First?

[MongiIG]

The ‘relief rally’ after the Fed’s historic – first 50 bp increase in 22 years – rate hike ran its course and subsequently collapsed. As we run through event risk like NFPs and CPI, the markets will focus increasingly on ‘traditional fundamentals’ to determine whether the next S&P 500 break is above 4,300 or below 4,000.