STOCK MARKET BULLS DISAPPOINTED ON HOTTER PRODUCER INFLATION BUT TRUSTING MARKET MECHANICS
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Hotter Producer Inflation
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:
- The chart shows that the stock market moved up above the top band of the top support zone. The move up was driven primarily by market mechanics.
- Bulls are confident that market mechanics will drive the stock market to the mini resistance zone shown on the chart.
- Bulls have data to back up their belief.
October 11, 2023