Our Urgent Market Update Video is designed to prepare you for the day’s high-probability trading opportunities. Today, we are delighted to confirm that inflation is coming down but has the pop already happened?
We say this for a few reasons. Firstly, from a technical perspective, $4,000 in the S&P 500 is a major upper trend line high (since Jan. 2022 highs). Also, the erratic volatile price action after yesterday’s US CPI numbers is more than troubling to the upside to say the least. If the S&P 500 lows of 3934 are broken we can probably expect further downside movement.
Additionally, from a fundamental perspective, there is a negative sentiment towards earning season. Bad corporate numbers are expected to hit the airwaves in the coming weeks. This, added with a potentially hawkish FED in early February, could provide tough conditions for US Indices to push higher in the near term.
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