December 12, 2023

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

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:

• The chart shows that in the early trade this morning, the stock market broke above the top band of the mini resistance zone.
• The chart shows that as of this writing the breakout appears to be failing.
• Stock market bulls ran up the stock market Friday and yesterday in anticipation of lower inflation numbers.
• This morning, before the release of CPI data, the momo crowd was aggressively buying stocks.