HOT INFLATION DATA – A KEY TEST AHEAD, TRUMP’S IRAN COMMENT CATCHES STOCK MARKET’S ATTENTION
By Nigam Arora
To gain an edge, this is what you need to know today.
Treasury Auction Ahead
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 shallow pullback in the early trade today.
- RSI on the chart shows the stock market is overbought, but the stock market has room to go higher.
- The chart shows that volume remains low. The reason for low volume continues to be aggressive option buying instead of stock buying.
- There are three new developments related to Iran that are impacting the stock market:
- After a series of positive statements regarding Iran over the last several days, President Trump is saying the ceasefire is on “life support.”
May 12, 2026