SP500 H4 | Potential bullish momentum

marketpre
01-10

$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$

SP500 is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target.

Entry: 4,738.10
Why we like it:
There is a pullback support level

Stop Loss: 4,678.99
Why we like it:
There is a pullback support that aligns close to the 50.0% Fibonacci retracement level

Take Profit: 4,815.95
Why we like it:
There is a resistance level that aligns with the 61.8% Fibonacci projection

SP500: SP500 H4 | Potential bullish momentumSP500: SP500 H4 | Potential bullish momentum



Will Core CPI Drop and Trigger a Faster Rate Cut?
Trading Economics expect Dec CPI to be 3.2%, higher than the previous data of 3.1%; the estimates of core CPI is 3.8%, lower than the previous data of 4%. FOMC minutes indicated a growing confidence in controlling inflation and rate cuts in 2024. ------------------------------- Will core CPI drop as expected and trigger for a faster rate cut?
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