Monday’s Consumer Price Index showed evidence that inflation is finally coming down. And we followed that up Tuesday with slowing inflation also evident in the Producer Price Index.
Target also reported strong earnings, which should provide some follow through for retailers especially. Shares of Target were up over 15% premarket.
Retail sales data also was stronger than expected at -0.01 versus estimates of -0.03% month over month, but it’s a big drop off from the previous month (0.07%).
I like what I’m seeing right now, but sometimes things move a little too fast and need to cool off. I believe we’ll consolidate for a few days before seeing more upside.
I don’t like to pick tops and bottoms, but the S&P 500 (SPY) is near major resistance so I’d be careful!
The QQQ, meanwhile, is also facing a lot of resistance as we approach a recent high…
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
In today’s all-new briefing…
I’ll discuss whether stocks are topping out or have more upside to go… if today’s PPI and retail sales data will push stocks higher… what the bond market is telling us about today’s trading action… if all retailers are going to pull a “Target,” or if the big boys will disappoint… which sectors are currently lagging and which ones are thriving… an update on SMH and 4 stocks you need to look at right now!
P.S. The 7 a.m. Signal This Wall Street Veteran Swears By
Today’s the day that we all learn about the best-kept secret in all of trading!
That’s right, at 1 p.m. ET today, Nov. 15, a former Wall Street VP will reveal his premarket, 7 a.m. signal that he’s sworn by for three decades…
This pattern will reveal what could be the day’s top stocks over two hours before the market even opens.
I can’t wait to see this, so join him at the link below and we’ll all find out for ourselves!
