In today’s briefing:
- Awaiting CPI Thursday; Expect 4100-4165 SPX to Cap Upside; Buy Ideas Within Gold Miners, Insurance
Awaiting CPI Thursday; Expect 4100-4165 SPX to Cap Upside; Buy Ideas Within Gold Miners, Insurance
- We currently see the market indexes as consolidating within broad horizontal trading ranges, and we expect these ranges to continue for months, and quite possibly for the entirety of 2023.
- We see the top-end of the range at 4100-4165 on the S&P 500, while the bottom-end is at the 2022 lows (3490).
- With yesterday’s break above 3910 it tells us a tradable rally has begun, with 4100-4165 our target
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