M 20P 01/20/2023

1. Yearly bar red, normally the next year going to make a new low
2. recession not going to benefit macy's
Risk:
It MAY pops to 21.75 level to reclaim the resistance if the market bounce recently
Important CPI and unemployee data will be released before next thursday

Comment:

market sentiment is bullish after unemployee release(salary increase slowly), spx pops to 3900 and it is going to test 3900-4000 level in next week.
Next thursday is cpi day, looks like cpi is under control. However, the Q1 earnings is coming, which is a big bearish earning season. Wait for short again