HOTTER CPI – MOMO CROWD USING HOPE STRATEGY GETS BURNED AGAIN
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Hotter CPI
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- Consumer Price Index (CPI) came hotter than expected.
- Headline CPI came at 1.3% vs. 1.1% consensus.
- Core CPI came at 0.7% vs. 0.6% consensus.
THIS CLASSIC MISTAKE WILL COST YOU DEARLY – HERE IS HOW TO AVOID THE PITFALL
- The chart shows that S&P 500 was at the upper band of the support/resistance zone prior to the release of the numbers and is now at the low band of the zone.
July 13, 2022