To The Moon

Content of the article: Events to Watch This Week - SPX Retained Levels.

$S&P 500(.SPX)$ rose 0.1%, the $DJIA(.DJI)$ added 0.3% and the $NASDAQ(.IXIC)$ closed flat.

SPX

Yesterday is not significant due to low volume due to Easter Monday...

The week becomes busy from Tuesday...with first of all the digestion of the last report on employment.

NFP

Investors would be mixed: a slow decline in hiring leaves the door open to a possible “soft landing” for the economy. But the jobless rate at 3.5% and suggest the Federal Reserve has room to continue to tighten monetary policy...

TO WATCH

• The speeches of no less than three Fed presidents: Austan Goolsbee from Chicago, Patrick Harker from Philadelphia and Neel Kashkari from Minneapolis, to glean some information...

• As well as the minutes of the Federal Open Market Committee meeting at the end of March, with the increase in the federal funds rate by 0.25 percentage points. Last month's FOMC median forecast called for another quarter-point rise this year...

Inflation at the heart of the week...

On Wednesday, the consumer price index for March is expected to show a 5.2% increase from a year ago, compared with a 6% rise through February. Core CPI, which excludes the food and energy components of the index, is expected to post an annual jump of 5.6%, from 5.5% a month earlier.

The producer price index for March on Thursday is also expected to show a slowing pace of inflation but remain well above the Fed's 2% target.

Finally, Friday also marks the unofficial start of the first quarter earnings season. As usual, the big banks will be the first group to report. Friday's results will come from $Citigroup(C)$ , $JPMorgan Chase(JPM)$ , Wells Fargo and $BlackRock(BLK)$ as well as UnitedHealth Group.

SPX LEVELS

• SPX continues to trade trapped inside the big 3850/4200 range. Short term resistance at 4200, support at 4000.

Please find below the levels retained for the SPX 

• Key levels: 4000 -4100

• Upper levels: 4100 – 4125 -4150 with 4200 in higher resistance

• Lower levels: 4075-4000-3950 – 3900 with 3800 in major support.

SPX Levels

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@TigerStars