3309 Drysdale Ct
Edwardsville, IL 62025
I'll try to keep this short. This is our 8th day of sideways
chop. As you can see on the $SPX daily chart, we spent 8 days in
the same price area in late May/early June. I thought I would go
back and see what economic data was released the week of June 6th
when the bottom dropped out of the market, so I went back to the
newsletter for June 6 and took a snapshot.
The answer: CPI. It came out on Friday, June 10th. But $SPX
moved down out of the chop area pretty convincingly on Thursday,
June 9th BEFORE the CPI release the following morning. Just some
information to consider as we look toward the CPI release tomorrow
This doesn't mean the same thing will happen. I've added the 10
minute chart from the newsletter on the weekend after the CPI
release. As you can see, the market was down the morning of
Thursday June 9th but still within the coil. It moved sideways in a
pretty tight range until the last couple of hours that afternoon
when it dropped out of the coil. Then there was a big gap down the
Again, this isn't a crystal ball, it's just a look at what
happened in a similar circumstance. We are at an inflection point,
and I will be very curious watching the market this afternoon.
Tx for sharing your analysis. Interesting.
Yes.. thanks for sharing...
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