Asphen
2023-04-13

Unimpressive CPI fails to bring SPY across 412! Await PPI tonight to define direction!


- Less than impressive CPI print fails to knock SPY above the key 412 (mid range)

- Did not hold above MA5 too but held again at 407 (range box)

- Looking to PPI tonight for direction, either below 407 or above 412. If it does break 412, then 416 would not be an issue

- Very important note ==> MA5 is inverse basing!! But MA20 is still far away, so crossing below would take time. A good PPI print can still move MA5 back up. 


My watches

- Can PPI break 412? or will it break below 407?

- MA5 direction and whether price action can get above it tonight

- Until then, I am neutral to cautious bullish. Not bearish yet.

@TigerStars  @CaptainTiger  @melson  @LMSunshine  @Deposit  

$SPY(SPY)$ 

# Technical Analysis

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Comment（44）

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  • LMSunshine
    ·2023-04-13
    Thanks buddy❣️Do you think the recwbg nasdaq technical bull market was just another deadcat bounce and all the gains will be gradually lost again?
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    • Asphen: 
      depends on how you see it. my humble view is... now is rally due to pivot expectations, cooling inflation and liquidity injection by FED.

      Once the FED actually pause or reduce rates, market will correct and how bad that is, will see technicals.

      follow price action..

      2023-04-13
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    • LMSunshineReplying toAsphen: 
      But there isnt pivot right? Because Powell said no cuts for 2023. Why will market correct when Fed pause? Isnt that what investors want?
      2023-04-13
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  • VivianChua
    ·2023-04-13
    will recover 💚 💪
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    • Asphen: 
      Good one
      2023-04-13
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  • Kim Jeong 金熔
    ·2023-04-13
    ok.. cash is king
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  • RickSanchez
    ·2023-04-14
    bullish
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    • Asphen: 
      very from last night
      2023-04-14
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  • Brando741319
    ·2023-04-13
    Ok
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  • LEESIMON
    ·2023-04-13
    Ok
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  • ethanlam
    ·2023-04-13
    so hot
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  • Shyon
    ·2023-04-13
    Gg
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  • BengSeng
    ·2023-04-13
    guu
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  • neosh
    ·2023-04-13
    😅
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  • MalayaKG
    ·2023-04-13
    mas
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  • BengSeng
    ·2023-04-13
    wow
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  • AS78
    ·2023-04-13
    Ok
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  • DevinPang
    ·2023-04-13
    [Smile]
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  • Jaden994
    ·2023-04-13
    ok
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  • Sagu
    ·2023-04-13
    Task
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  • Camper
    ·2023-04-13
    [Cool]
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  • Ignis
    ·2023-04-13
    lol
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  • Joshua87
    ·2023-04-13
    liked
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  • hh488
    ·2023-04-13
    Agreed.
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