📊 Market Sentiment: Neutral to Bearish

Catalyst:

  • The latest CPI results will be released this morning at 8:30 AM (EST).


U.S. Economic Projections:

  • Congressional Budget Office (CBO): Forecasts slower economic growth in 2024 with unemployment rising due to tight monetary policy, but expects growth rebound in 2025 as Federal Reserve lowers interest rates.


Global Stock Market Movements:

  • Fluctuations observed with the S&P 500 reaching record highs, driven by optimism and big tech performance. Nikkei 225 also sees significant gains.


Interest Rates and Inflation:

  • Inflation easing may lead Federal Reserve to begin rate cuts later in the year, fostering hope for resolution against inflation.


Investment Trends and Strategies:

  • Trends focus on AI's impact on finance, performance of digital and cryptocurrencies, and outlook for tech and ESG funds.


AI in Finance:

  • Vanguard incorporates AI into quant stock funds, highlighting the trend of AI integration into investment strategies.


International Developments:

  • Prime Minister Narendra Modi's engagements in the UAE and Qatar aim to deepen bilateral ties.


Corporate Bonds and Insurance:

  • U.S. investment-grade corporate bonds expected to offer impressive returns in 2024, while insurers may focus on margins over growth.


UK Market and Employment:

  • The UK's unemployment rate falls, indicating a tight job market. Wage growth and unemployment trends remain critical.


📈 Trading Plan for Tuesday:

Support Levels to Watch:

  • Critical Supports: 5034, 5018-20, and 4959, indicating pivotal points for maintaining bullish momentum or indicating potential bearish shifts.


Resistance Levels to Watch:

  • Key Resistances: 5048-50, 5057, and 5070-76, serving as potential targets for upward movement or reversal points for bearish trends.


Trading Strategy:

  • CPI Day Caution: Emphasize capital preservation, acknowledging potential volatility from CPI data release.
  • Bull Case: Focus on holding above 5018-20 for bullish continuation, eyeing targets at 5057 and 5076-80.
  • Bear Case: Watch for breach below 5018-20, indicating a shift towards bearish sentiment and potential deeper sell-off.


Tactics:

  • Emphasize disciplined trading within identified support and resistance levels, with cautious engagement in new positions given expected market volatility from CPI data.


🛑 Disclaimer: This analysis is for educational purposes only and is not financial advice. Always consult with a professional financial advisor before making trading decisions.
ESes_fESH2024february2024futuresSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Support and ResistancetradingviewTrend Lines

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