RELIEF RALLY ON STICKY INFLATION DATA AS RATE CUT HOPIUM BUILDS
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Sticky Inflation
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 buying in the early trade in a relief rally on sticky inflation data.
- RSI on the chart shows that momentum is waning and the stock market can go either way from here. In The Arora Report analysis, RSI behavior is explained by recognition among some investors that the election euphoria is overdone.
- The chart shows that volume continues to be low.
December 11, 2024