Turn around for the markets ahead of PCE inflation data?

Bullish candle on Tuesday on E-mini S&P 500futures

Bullish green candle on Tuesday

Have the markets suddenly decided to have a Christmas rally? A bullish green candle appeared on the S&P 500 futures on Tuesday, indicating as the market sold off, the buyers bought in when prices were low and managed to pushthe price up to close above opening price. Have the markets jumped the gun ahead of Core Personal Consumption Expenditure (Core PCE), which will be published on Friday, December 23 at 8:30am ET, this is theFed's preferred measure of inflation. 

The market expectation is for the monthly core PCE inflation to rise by 0.4% in November following October’s 0.2% increase. On a yearly basis, consensus sees 4.6% vs. 5.0% in October. If so, it would be the second straight deceleration to the lowest since October 2021. 

Will the Christmas 🎄rally take place? Or will theend of 2022 be slammed in its face? 🎅

$E-mini S&P 500 - main 2303(ESmain)$ 

$SPDR S&P 500 ETF Trust(SPY)$ 

$Invesco QQQ Trust(QQQ)$ 

@TigerStars