HOTTER CONSUMER INFLATION WILL TEST STOCK MARKET BULLS’ TRUST IN MARKET MECHANICS
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Hotter Consumer 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 ran up above the top band of the top support zone in anticipation of better than expected Producer Price Index (PPI) and Consumer Price Index (CPI) as well as the market mechanics of year end chase and market positioning.
- Yesterday, we shared with you that PPI came hotter than expected, but bullish investors chose to ignore it.
October 12, 2023