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1:47 p.m. ET The S&P trades back above $4200 and all of the averages trade near the best levels of the day, but are coming up on or are at recent highs which could prove to be local resistance. For example.. SP-500 (5m) just under Tuesday morning’s opening highs. NASDAQ-100
This is a post from Wolf on Wall Street Trade, my current subscriber website. The Technical Take will be online to replace WOWS shortly. This is the Daily Wrap for Thursday, May 18th, 2023. Today the stock market built on yesterday’s gains, which saw the S&P-500 trade up to the
S&P futures are unchanged ahead of the March Consumer Price Index tomorrow and earnings from several large banks on Friday. China received encouraging inflation data in the form of the March Consumer Price Index which was cooler than expected, reducing the yr/yr rate to 0.7%, its lowest level since September
10:48 a.m. ET The tone this morning is on the bullish side, but low conviction. There are some interesting developments in Small Caps as we near the kick-off of earnings season with the banks Friday, which are crucial to Small Caps near term. SP-500 -0.1%, Dow +0.1% (Transports +0.6%), NASDAQ-100
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