Cory4rex

11/15/23 SPX Daily Outlook

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BLACKBULL:SPX500   美国标准普尔500指数
#SPX #DailyReview #DailyOutlook:

CPI release for today was lower than expected which means that the price of goods has come down a bit. This is implying that something the Feds and the government is doing is working (questionable still).

8:30am
USD
Core CPI m/m
0.2% 0.3% 0.3%
USD
CPI m/m
0.0% 0.1% 0.4%
USD
CPI y/y
3.2% 3.3% 3.7%

We have PPI and Retail sales tomorrow. Then Thursday we will have Unemployment Claims so that will definitely move the markets on those days for sure.

This setup played out Number 1 Taking the PWH should still be at risk. We only tapped it and there may be reason to push through. News on tomorrow could change it all so be careful. We left a huge 4H+FVG and a 1H+FVG

#1 Because we closed so high up on news my initial thought is for a LTF pullback but given that the PPI is tomorrow we may stall until the release. Either way we have the PDH and previous week highs (PWH) from the 9/11/23, 9/4/23, and 8/24/23 as the closes draw on liquidity. Once the PPI release happens, all bets are off and the market will do as it pleases.

#2 Selling for now isn't an option at the moment but taking the sell into the +FVG on the lower time frame may be a move on the 15m chart and below.

1H chart

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