SPX - Will we close above or below this trendline today?
Lets go through yesterday CPI came out lower so US equities headed higher, DXY headed lower but now look where we are.
Today we have FOMC - In my opinion we can't even close above it do we today we took back all move of CPI if we close below it I think we back within these ranges and perhaps bears gain further control.
Will Powell be dovish or Hawkish - The way I see it we get coin flip - Santa or the grinch.
Trade Journal
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Can't close above, bears seems firmly in control and could expect this furth Q1 23.
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3800 decent support
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3700 areas next support and perhaps re-test of 3600 could be possible.