This Should Be Good News

Data out this morning show GDP price a little bit higher than expected (5.9 vs 5.7) but if you read deeper into the data you will see both GDP Price and PCE data (Month over Month) were lower for two consecutive months (Oct and Nov) than the peak from Sept. actually forming a down trend.  Now I see the Fed was correct on the inflation as transitory and it won't have to be in a hurry to raise rate .........................

Edited by redfoliage2, 24 November 2021 - 10:22 AM.

BTW, this dip will be bought and the stock market is likely to make new highs soon .................

Bond yields and USD very likely right at a top thanks to the inflation hype.................................

Edited by redfoliage2, 24 November 2021 - 11:15 AM.

Besides, the seasonality is also in favor of the stock market:

https://www.cnbc.com...liday-week.html

Edited by redfoliage2, 24 November 2021 - 12:20 PM.

For some reason 2018 seems to be coming to mind as everyone is saying the same thing.....

I don't think it's the same as 2018 as the current market is a very different market.  I actually see new highs in December .......................

Edited by redfoliage2, 24 November 2021 - 12:36 PM.

I see SPX should close above 4700 to set up the stage for big upside move after Thanksgiving ...........................

Edited by redfoliage2, 24 November 2021 - 01:14 PM.

 

 

 

Data out this morning show GDP price a little bit higher than expected (5.9 vs 5.7) but if you read deeper into the data you will see both GDP Price and PCE data (Month over Month) were lower for two consecutive months (Oct and Nov) than the peak from Sept. actually forming a down trend.  Now I see the Fed was correct on the inflation as transitory and it won't have to be in a hurry to raise rate .........................

 

Today's data support the Fed's view on inflation as transitory, and it should give a relief for the market as well as for the Fed......................

If we don't see SPX close above 4700 we are likely to see a gap-up and go on Friday .......................

My FF for Friday:  Jump the creek and go as the stage was set up today...........................

Edited by redfoliage2, 24 November 2021 - 04:36 PM.