CPI looks to be a possible catalyst for a turn if SPX gets near 5700

SPX’s technical trend and momentum remain bearish and not oversold, and Friday’s breakdown to new monthly lows is considered a near-term technical negative for patterns on many US indices and ETFs. While a short-term low could be approaching next week, possibly into CPI, it’s important that markets start to exhibit some elements of capitulation that were lacking as of Friday’s close. Given that good economic news has ...

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