Panjang
S&P 500 Will Likely Take Out $4300 This Month
-Feds will likely go forward with a 50 bps in December, eyes are on Dec 13 CPI data release.
-US Inflation is down for November and I'm expecting it to continue falling during next month's CPI release. If that's the case, then I believe Feds will reduce by 25 bps.
-The US dollar, which has a major influence on stocks, appears to be forming a monthly correction in near term. This could also drive stocks indexes to higher levels in the next couple of quarters.
-Looking at monthly price action, traders are pricing in a potential bullish impulse towards $4300 then $4500 by the end of Q4 as they await the Dec 13-14 data release.
-US Inflation is down for November and I'm expecting it to continue falling during next month's CPI release. If that's the case, then I believe Feds will reduce by 25 bps.
-The US dollar, which has a major influence on stocks, appears to be forming a monthly correction in near term. This could also drive stocks indexes to higher levels in the next couple of quarters.
-Looking at monthly price action, traders are pricing in a potential bullish impulse towards $4300 then $4500 by the end of Q4 as they await the Dec 13-14 data release.
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