It will likely be a whipsaw tomorrow after 8:30am. Depending on how low we go before CPI it may bounce a bit before open, but I still expect lower into the end of the week.
Note
If Spy sells hard, likely it will fill the gap at 368Note
Potential head and shoulders formed, target would be about 3720-10. We found support today at the neckline today but if it breaks overnight it will be strong resistance on any bounce tomorrow. Note
9.1% inflation in June - 3710 area still looks right, Note
taking some profits at open and then gradually down to 3700 area. I still believe 3710 will be the target and possibly the move up to 4100 area starts from there. I could be wrong and this thing may flush down to 3500 area by next week, but I'm going to follow my analysis as it is until proven otherwise.
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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.