Time for Relief? NASDAQ-100, CPI numbers await 830am
This morning we went over the NASDAQ-100 AND SP500 Futures as well as Bitcoin. We identified some key area moving averages, potential support and resistance levels, and ideal possibilities for entries and stops.
CPI numbers at 830am which could pose as an excuse of "better than expected" as a relief rally, despite overall weakness in the economy. Inflation continues to run recklessly out of control - when will The Fed step in? We also hear from FOMC Member Brainard today at noon, so there are items on the table to move markets. Just focus on Price Action!
Remember the bigger picture still remains bearish sentiment and correction territory, but doesn't mean we cannot take advantage of impulse movements within the intraday time frames.
Watch that 377 moving average and the pinch between the 50 day. The 14,000 area is the psychological number.
CPI numbers at 830am which could pose as an excuse of "better than expected" as a relief rally, despite overall weakness in the economy. Inflation continues to run recklessly out of control - when will The Fed step in? We also hear from FOMC Member Brainard today at noon, so there are items on the table to move markets. Just focus on Price Action!
Remember the bigger picture still remains bearish sentiment and correction territory, but doesn't mean we cannot take advantage of impulse movements within the intraday time frames.
Watch that 377 moving average and the pinch between the 50 day. The 14,000 area is the psychological number.