Omicron lockdown concerns? Build Back Better blown up? Taper Tantrum?
Take your pick at the narrative driving markets, but for now, all the majors have broken below key technical levels.
S&P broke below its 50DMA, Russell 2000 remains well below its 200DMA, Nasdaq broke below its 100DMA, and The Dow broke below its 100DMA.
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As a reminder, 2018's plunge was 20% before the Powell Put strike was discovered...
For now, rate-hike odds are unphased by the stock market's fall...
What will it take this time?