Market Notes for 3/20-3/24
Recap of last week: A lot of things happened last week. Both inflation data, CPI and PPI, came in positive for the market therefore the market is likely projecting inflation to come down rapidly as the economy cools even further due to the banking crisis. Our prediction of a gap down on Monday as exhaustion was a great setup for scalp long on an oversold bounce to 390 which played out perfectly as we gapped down Monday to touch the 381 demand and bounced exactly to 390.
Economic Calendar/Important Earnings for the week: Seems like a very quiet week til FOMC on Wednesday which will likely generate a lot of volatility for the week.
Monday
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