Spy 7/14 Fibonacci
Updated
CPI comes in at 9.1% a new 41 year high and the market says “hold my beer”. One thing I’ve learned is don’t fight the trend of the market it will always win. Seems like the bull algo is running the morning and afternoon leg, then 30 minutes to the close the sell off hits. I believe 383 is in play tomorrow. As always trade what’s in front of you good luck out there
Note
PPI “producer price index” comes in tomorrow I forgot to mention if it’s higher than .76% it’s a problemNote
PPI comes in at 1.1% yesterday’s bull trap working perfectly for bears 370 is in play
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