STOCK MARKET CELEBRATES COOLER CPI, OIL GLUT BY THE END OF THE DECADE
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Cooler 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 the stock market taking another leg up on cooler Consumer Price Index (CPI).
- The chart shows the volume has been low, indicating lack of conviction. In theory, the volume today should be significantly higher. The Arora Report will be carefully watching the volume.
- RSI on the chart shows the market is overbought, making it susceptible to a pullback.
June 12, 2024