Posted by $SPX – The 40 TD cycle high is due tomorrow. People reminded me yesterday that there's a PPI release tomorrow. On the last PPI day(11/15) SPX topped at 4029 after closing at 3957 the previous day. Anything higher than 4029 will lead to the trendline from the January high at 4067. pic.twitter.com/RlRsvrQa7T
— CyclesFan (@CyclesFan) December 8, 2022
US yield curve is now most inverted in 40 years – US 2s/10s yield spread at -84bps 👇 pic.twitter.com/LnDTzwBi4e
— Gianluca (@MenthorQpro) December 8, 2022
SPY then and now. Then: overbought RSI + immediate pullback + gap down. Now: not overbought RSI + false breakout + 2 weeks of sideways. Less bearish = bullish? pic.twitter.com/7sZYo28rG2
— Brett Villaume, CMT, CAIA (@brettvillaume) December 7, 2022
$SPY Chart Update:
I had to re-calibrate the lines a bit to give a different perspective.
The SPY is down 7 of last 8 days, a rarity. It's hit the lower end of the uptrend channel. If it can hold tomorrow, bulls got a shot at retesting 400 and potentially 50dma in coming days. pic.twitter.com/0SSEF3hxIv
— Heisenberg (@Mr_Derivatives) December 7, 2022
S&P 500 $SPX unfortunately was unable to hold the 200 Day Moving Average and is now just above its 100 Day. Will that hold or will it fall further to the 50 Day? pic.twitter.com/m5a3ptFCHW
— Barchart (@Barchart) December 7, 2022