Eclubtrading

SPY before the CPI numbers

AMEX:SPY   SPDR S&P 500 ETF TRUST
The overall market is at an inflection point. Yesterday it dropped below Friday's low as the bears continued to be in control and managed to push prices lower after the initial gap up. For today, the CPI numbers will be in focus. In case of a hot reading above the 0.4% increase month over month, expect more selling pressure. A goldilocks report might offer some continuation to the upside as the $SPY managed to reverse mid-day losses and closed above Friday's lows. Turnaround Tuesday ahead of Yom Kippur?

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