$Tesla Motors(TSLA)$ Price moving between 50 and 100 daily moving averages, similar to November 2023.Back then price action filled a gap down, today it filled a recent gap up.50DMA is close to another S/R level, that confluence better holds and create a bounce above 100 DMA and other levels shared in the Weekly Compass.Also similar to last time, there is a bullish 20 & 50DMA bullish crossover, adding bullishness to the chart.Price action has to demonstrate a change in the trend.Imagehttps://x.com/SmartReversals/status/1795071667590308017
Wall Street Economists Expect 'Friendly' U.S. Inflation Data This Friday
Will it be enough to put Federal Reserve interest rate cuts back on the table?Expectations about the future path of Federal Reserve interest-rate policy has been on a roller coaster this year and the next potential swoon could come Friday with the release of the Fed's preferred inflation measure of consumer inflation.Going into the week, the Fed is seen in a holding pattern, based on the hawkish policy comments in the minutes of the May policy meeting published last Wednesday.The minutes revealed the Fed was shaken by the high inflation reports seen in January, February and March. Some policymakers had even raised the possibility of rate hikes. In addition, a "number" of officials saw the risk that financial conditions are not sufficiently restrictive to slow demand and inflation."All-in-all, this report should be a Fed-friendly release that points to further moderation in consumer demand and real income growth that is gradually reducing the temperature on core inflation, keeping the d