This week has brought lots of volatility and economics events along with it. Tuesday brought markets down as CPI released with a hotter than anticipated Inflationary report, this confirms another big interest rate hike of .75-1.00 bps by the fed leading into next week.
The long battle with inflation is proving to be rather stubborn as consumer prices indicate 8.3% compared to a year ago. Lots of fed and economists have expected inflation to continue a downwards trend from July's report.
Powell has noted that while maintaining and sustaining interest rate increases, will most likely bring down the hammer to most Americans but actions must be taken so that inflation does not keep on its current trajectory.
It is likely that Indices' have not given up all they have to give just yet and more pain can be on the way. Let us look to approaching areas of key interest.
Looking at SPX/ES Upside Levels --> 4140, 4200, 4300 Downside Levels --> 3900, 3775, 3654
ES1!
The long battle with inflation is proving to be rather stubborn as consumer prices indicate 8.3% compared to a year ago. Lots of fed and economists have expected inflation to continue a downwards trend from July's report.
Powell has noted that while maintaining and sustaining interest rate increases, will most likely bring down the hammer to most Americans but actions must be taken so that inflation does not keep on its current trajectory.
It is likely that Indices' have not given up all they have to give just yet and more pain can be on the way. Let us look to approaching areas of key interest.
Looking at SPX/ES Upside Levels --> 4140, 4200, 4300 Downside Levels --> 3900, 3775, 3654
ES1!