
RELIEF RALLY ON FED’S FAVORITE INFLATION DATA, AI EARNINGS EXPECTATIONS OVERDONE
By Nigam Arora & Dr. Natasha Arora To gain an edge, this is what you need to know today. Relief Rally 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 has fallen into the support zone. The chart shows that RSI had approached the oversold level prior to release of PCE data. PCE is the Fed’s favorite inflation gauge. RSI foreshadowed that there would be a relief rally if PCE came inline with expectations. The chart shows that the