The S&P
500 broad market index took up a defense position at 4390 points. This is the
lowest possible support level for this week, but it is strong enough to hold
amid moderate pressure. However, it is not strong enough to tackle serious
threats. So, it is of paramount importance that corporate earnings reports and the
Federal Reserve’s (Fed) Chairman Jerome Powell do not give us any dramatic surprises.
More than
7% of companies from the S&P 500 index list have delivered their Q1 2022
earnings reports, while 75-77% of them managed to beat the consensus of Wall
Street analysts.