Greetings fellow traders and welcome to your November 10th edition of Weekly Wisdom: Levels to Know and Moves to Look For!
Let’s get to what we’re currently seeing in these crazy markets and what we have our focus on going forward.
The big question everyone is trying to figure out: Are we going to have a hard or soft landing? Are we going to be able to get inflation down without hurting the economy in a big way?
CPI gives the S&P 500 a solid boost – is this the ignition catalyst to move us toward the 200 daily moving average again?
The upper trend line resistance for SPY’s weekly chart should serve as a good target from this CPI ignition move. This just about lines up with the 200 daily moving average target.
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*As of 11:40am ET November 10, 2022
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