Stocks have benefited immensely from the CPI print on Thursday which showed that inflation is cooling slightly and therefore may signal a dovish pivot soon in Fed rhetoric. Stock indexes have all rallied accordingly. The S&P 500 is currently at the door of the 4000's. We are testing one level below 4009 at 3978. A red triangle on the KRI does seem to suggest that we will be facing resistance here, but we have not seen a significant retracement. If we do, we should find support at 3937 with 3909 a likely floor. If momentum can continue, then 4009 is the next target.
I can't see the upper RED resistance, is that around 4082 (that's currently the 1D MA200)? I took profits yesterday for sure, can't pass up great gains.
quantguy
⋅
@peterbhc, yeah it blew through my PT's too. Can't beat yourself up over profits you left on the table. A green day is a green day...