HOTTER CORE CPI UPSETS STOCK MARKET BULLS’ HOPIUM, BUYING AHEAD OF NVIDIA’S JENSEN HUANG SPEECH
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Hotter Core 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 a slight pullback in the stock market after the release of CPI this morning.
- The chart shows that the stock market has made a double top in the resistance zone. In the short term, this is a negative pattern.
- The chart shows that the stock market is consolidating between the support zone and resistance zone.
September 11, 2024