Long
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.