CPI / PPI data this week will foreshadow what is to come for the rest of august and September.
September is historically the worst month for the market so we must be ready for anything.
If we have an negative overreaction tomorrow morning from CPI data, we will most likely wick down hard and then spring back into the channel shortly after.
If CPI is good we will most likely gap up at first and then sell off back into the channel as I don’t think the pull back is finished just yet.
Levels to watch :
Support: $364.55
$357.46
Resistance: $375.33
$380.05
September is historically the worst month for the market so we must be ready for anything.
If we have an negative overreaction tomorrow morning from CPI data, we will most likely wick down hard and then spring back into the channel shortly after.
If CPI is good we will most likely gap up at first and then sell off back into the channel as I don’t think the pull back is finished just yet.
Levels to watch :
Support: $364.55
$357.46
Resistance: $375.33
$380.05