M 20P 01/20/2023
Updated
1. Yearly bar red, normally the next year going to make a new low
2. recession not going to benefit macy's
Risk:
It MAY pops to 21.75 level to reclaim the resistance if the market bounce recently
Important CPI and unemployee data will be released before next thursday
2. recession not going to benefit macy's
Risk:
It MAY pops to 21.75 level to reclaim the resistance if the market bounce recently
Important CPI and unemployee data will be released before next thursday
Note
market sentiment is bullish after unemployee release(salary increase slowly), spx pops to 3900 and it is going to test 3900-4000 level in next week. Next thursday is cpi day, looks like cpi is under control. However, the Q1 earnings is coming, which is a big bearish earning season. Wait for short again
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