The Long Investor
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🕑 Added 2025-01-15 12:33:24 +0000 UTCMy thoughts on the market day:
If CPI comes in hot then there is likely going to be a flush down to the green line at $565 this week then and we can assume that the 200 Day MA will be tested over the the next week or two.
A cooler CPI and support could be in then on the 0.5 Fib at $574 and we could be looking at the 50 Day MA getting flipped back to support which would put final Wave 5 in contention (this is the scenario I am leaning towards) but we will not know until the data is released.
If CPI comes in at estimates then I believe the worst is already factored in and there will be another retest of the 50 Day MA from below at $593 and then positive earnings could then help the market go higher above the 50 Day MA.
