US: December monthly CPI revised to +0.1% from -0.1%

https://www.fxstreet.com/news/us-december-monthly-cpi-revised-to-01-from-01-202302101346

FED juice is being used to control the decline to new lows in Q1. Speaker mess cleared up but we could not manage 2nd day of rally and closed with ugly daily candle. This week's weekly candle will direct how Q1 shapes up.

Hmmm, looks like it does want 3904 50dma
100 pt up day!

Still within levels ... needs to break one way or the other.

Still within levels ... needs to break one way or the other.

Good trade Keep & great call being bullish into this morning ... you are nimble!
But I seriously doubt we will see 39xx in Q1 :)

I see Bulls getting all lathered up here at 3880 lol :)

Good points. If we don't break 3800 next week on the CPI, agree going higher to 39xx
For now, still trading it in the pennant with highs in 387x

SPX 3800 NDX100 10700
Once these levels break, WHOOSH!!

One way to get out this 2-week consolidation going nowhere rut is to gap out of it and tomorrow's report could provide that impetus.

Ok. Predictions agree but news can help especially if you trade intraday but understand your position.

Your welcome. Since you trade intraday, this may be a good site to keep eyes on

https://twitter.com/financialjuice

Bullard FED speak rampo

Yep, but I think it is getting close to finding a direction

Yes sir. So, new lows first in Q1 and then your incessant call for 3950 in Q2 :)
Get on the program with this script lol

I've heard it takes almost a year for the FED rate hikes to trickle through the economy and show affects. FED started its hike cycle March 2022 with just 25bps and then May with 50.
So, economy starts slowing down in a couple of months .... That's when market bottoms, I think!

Market was long in the pile at the close ... pretty large gap down tomorrow a.m. possible.
Will it get bought? Anyone's guess!

Santa leaves today
Jan 4th was HIGH for the year in 2022 and hopefully Jan 3/4th will be the high for at least Q1 this year.

https://en.wikipedia.org/wiki/Santa_Claus_rally#:~:text=Over%20the%207%20trading%20days,other%20times%20of%20the%20year.

Yep and more should come this Earnings season, I think.

https://finance.yahoo.com/m/3cf8a504-d1a8-36c1-9943-d008a8d35fa4/microsoft-stock-drops-after.html

GOOG AMZN holding but look at MSFT today

MSFT the 2nd largest weighted holding in $SPY and the 1st largest weighted holding in $QQQ is down over 5% today.

Really not sure how a rally in Q1 can start with Big names cratering and being downgraded.

Daily 20/50 cross, so timing is right for an acceleration down after balancing for a while.

$SPX probably made a 20 TD cycle high today when it hit 3878. The high will confirmed only if it declines below 3764 tomorrow. There's also a bearish crossover between the 20 day and 50 day MAs. The previous time it happened was on September 15 during the last weekly downtrend. pic.twitter.com/elup4A0UzX

— CyclesFan (@CyclesFan) January 3, 2023

3675 is WAY below the daily bollinger band, so doubt it can get there tomorrow.
Max to 3725-45, so perhaps a 2-2.5% down day if you think it will be down BIG tomorrow.

Yep, fast move to 36xx this week once it breaks down of balance area :)
gdl's 4 day slide is on the cards, imho.

Spike up ... New Years Gift!

Ah, interesting. That's why we are pinned at these levels. Looks like they will close it above 3812 today so that 2022 does not show up as a bear market year for the headlines. 12/31/2021 close was 4766.

Thanks to the JPM collar we have been pinned at these levels all week. Free and efficient markets

— Reformed Tr🅰️der (@Reformed_Trader) December 30, 2022

It is possible that your 4 day slide starts today.

Yes am ready. I think we give up all of yesterdays gains and some today.
Should close 37xx today to make it a 20%+ down bear market year ... 36xx will have to wait till next week.

Struggling I think lol

Argh, I keep forgetting that you talk ES, so that would be close above 3975 where its 10 ema is

Struggling to close above daily 10ema at 3953-54. That is the first baby step for the Bulls :)

Looks like it wants to go to 3880 which is the weekly mid bollinger band

Wave 3 in progress?
Target should be 3344 (1.5 x Wave 1) or 3303 (1.618 x Wave 1)

Closing near lows ... year end selling should continue next 1-2 days as funds reposition for their qtr/year end reports.

Looks like it. The battle for close above/below 3800 in on for rest of today's session.

Ha ha, you are a pro, so I know you will be fine!
I make way too foolish mistakes lol

Ah gotcha, still think catching falling knives is not a good idea :)

AAPL last General standing making new 52 wk lows
Not sure how you can be Bullish here. Safer to short the retracements up, imho

Tax loss selling kicking in ... Whoosh!
Once it closes below 3800, its over for the Bulls to new lows.

Message deleted ... will respost

Chop today perhaps but Whoosh coming very soon, imho!