FED’S FAVORITE INFLATION GAUGE DISAPPOINTS BOTH STOCK MARKET BULLS AND BEARS
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
PCE
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 is consolidating right below the mini resistance zone.
- The RSI pattern on the chart shows that the stock market can go either way.
- The stock market is up this morning due to positive earnings from Salesforce (CRM). Salesforce is in the Dow Jones Industrial Average (DJIA). Buying is also coming in due to strong earnings from Snowflake (SNOW) and Synopsys (SNPS).
November 30, 2023