To The Moon

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  

$SPY(SPY)$