The S&P 500 wiped out a 2.4% loss yesterday , the biggest stock reversal since July 1991. The initial rush to sell was caused by a hotter-than-expected inflation data, with CPI rising 8.2%, higher than estimates of 8.1%. However, this initial sell off was followed by a swift dash to buy, with the index closing a whopping 2.6% higher at the end of the day.
Yesterday's bullish price action means the stock market is likely to continue its rally for the next few days. My price target for the $SPDR S&P 500 ETF Trust(SPY)$is $380, which is a level of past support which will now act as resistance.
@TigerStars@CaptainTiger@TigerEvents
Modify on 2022-10-14 16:25
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- CynthiaVogt·2022-10-14great. CPI report just reached my expectation. Bullish this two weeks!7Report
- JuliusGoldsmith·2022-10-14Good article. My target is between $375-3804Report
- FFreedom9·2022-10-15The market is on daily mood swing6Report
- CharlesW·2022-10-15There maybe more surprises for the rest of the year...5Report
- RS69·2022-10-16bear market confirmation, lower high and lower lower2Report
- Jessline·2022-10-16Stocks are finally oversold for the first time since 2016, but that doesn't mean you should buy the dip just yet, says a Wall Street CIO1Report
- LEngLEng·2022-10-14Thanks for the info [Smile]2Report
- Jason1616·2022-10-15One of the rare opportunities to accumulate good stocksLikeReport
- Ivan8888·2022-10-14Nice correction1Report
- 小可爱0958·2022-10-15[微笑] [微笑]LikeReport
- Bodoh·2022-10-14Dead cats bounce tooLikeReport
- Maxcrusader·2022-10-17OkLikeReport
- Alvis89·2022-10-17Go odLikeReport
- Eleewin·2022-10-16HiLikeReport
- Porkfat·2022-10-16[Cool]LikeReport
- Vincenttan91·2022-10-16GoodLikeReport
- S.Qing·2022-10-16good 👍LikeReport
- TiffLim·2022-10-16[Smile]LikeReport
- Ash8·2022-10-16LikeLikeReport
- 虎虎牛牛盈盈·2022-10-16oooLikeReport