Today after data shows that inflation eased in February, and with the Federal Reserve's milder expectation, the short-term bias remains bullish, its loss, if it loses, could lead to a consolidation towards 3.875.
S&P 500 has gained nearly 6% so far in the first quarter, with the tech sector up about 20%.
The technical side of the S&P 500 (SPX) is perfectly bullish, long-term and short-term trends to the upside and smooth continued consolidations to build momentum.
Key resistance is at 4,149 points. If it manages to beat these prices, it's very likely that we'll end up seeing an extension of earnings to the annual high.
Technical Data :
*Personal consumption expenditure index (PCE): rose 0.3% in February, compared with a 0.6% increase in January. Remembering that it is the Federal Reserve's preferred inflation indicator
*10-year US Treasury yields fell to a session low of 3.51% after the data
*Traders' bets on a 25bp rate hike in May: 52.5%, with odds of a break at 47.5%
S&P 500 has gained nearly 6% so far in the first quarter, with the tech sector up about 20%.
The technical side of the S&P 500 (SPX) is perfectly bullish, long-term and short-term trends to the upside and smooth continued consolidations to build momentum.
Key resistance is at 4,149 points. If it manages to beat these prices, it's very likely that we'll end up seeing an extension of earnings to the annual high.
Technical Data :
*Personal consumption expenditure index (PCE): rose 0.3% in February, compared with a 0.6% increase in January. Remembering that it is the Federal Reserve's preferred inflation indicator
*10-year US Treasury yields fell to a session low of 3.51% after the data
*Traders' bets on a 25bp rate hike in May: 52.5%, with odds of a break at 47.5%