HUGE POST DEBATE UNCERTAINTY FOR INVESTORS, NEW DATA ON FED’S FAVORITE INFLATION GAUGE AND PERSONAL SPENDING
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 attempting to break to a new high.
- RSI on the chart shows that there is a technical set up for the stock market to go higher.
- The chart shows that the stock market is significantly above the support zone. This indicates that buying here does not have a favorable risk reward ratio.
June 28, 2024