
CONSUMERS SPLURGE BUT POTENTIAL DOWNGRADE OF JP MORGAN AND CHINA DATA HIT THE SENTIMENT, SAUDI ARABIA BUYS NVIDIA CHIPS
By Nigam Arora & Dr. Natasha Arora To gain an edge, this is what you need to know today. Consumers Splurge 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 backed off after touching the low band of the mini resistance zone but is still significantly above the top support zone. RSI on the chart shows that the stock market is coming out of the oversold condition. The U.S. economy is 70% consumer based. Therefore, retail sales data carries heavy weight in the