STOCK MARKET DODGES A BULLET – MOMO GURUS PROVEN WRONG
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Fed’s Favorite Inflation Gauge
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 between the resistance zone and support zone.
- RSI on the chart shows that the stock market can go either way from here.
- This morning, the stock market dodged a big bullet. The bullet was the fear that PCE, the Fed’s favorite inflation gauge, would come higher than the consensus.
April 26, 2024