Gap Down to Gap back up?
Added 2024-05-29 19:43:23 +0000 UTCGDP data tomorrow and we're inching closer to the PCE data due out Friday. $SPX gapped down this morning and filled the 5269 gap, while there is a 5250 gap, but there's also a 5300 gap. Wild market right? Move down overnight may have been caused by Australia's inflation and if that's really the news then I think market can get over this. We mentioned yesterday where our PCE Buy the Fear Line would be right about the 524/525 area. The 4 hour is still holding a trendline and showing higher lows off that Trendline. So, all in all, nothing bearish quite yet.
Good luck!
Tonight's Holds: $ARM $AMZN $SPY $MRVL
