9/8 Recap

The market awaits CPI next week. That is going to be the event that either breaks this current uptrend we’re in or keeps the party going. Tom Lee was on CNBC this morning saying next week would be a turning point where people realize inflation is dead, I’m not so sure about that myself, but we will have to see what comes of it. The most incredible thing about this market is the resilience of these megacaps. I don’t even know what it would take to bring down Apple at this point if negative revenue and a ban on their phones by the Chinese Government just get bought instantly.

The SPY keeps getting bears hopes up as it approaches the uptrend and then bounces back seemingly every single time. We look like we may be getitng a second straight close over the 8 week ema and the bulls remain in charge.

The Dollar, beow, is working on its 8th straight week green. Interestingly this strength hasn’t really hurt stocks. Stock bulls want this dollar to cool off soon, this is showing alot of strength.

Trends

Week To Date

2 Week

1 Month