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$SPY weekly downtrend chart ahead of 1/12 CPI print

By Solidified
SPY weekly downtrend chart ahead of 1/12 CPI print
The only road above the $400.5 PL is to break the 50 week EMA and the only road above $402 breaks out of the year long downtrend creating a trend reversal.

I If CPI is inline with expectations, I can see us retesting the top of the downtrend and rejecting it.
However, if we're hotter that expected we'll likely take out the October CPI lows of $348.11(before the next print).
Chart PatternsCPIoptionstradingTechnical AnalysisTrend Analysis
Solidified
Tracking chart Setups like meteorologist track Storms.
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