US30 Intra-Week Analysis December 20th 2022

In the last 2 weeks, we saw us30 spike up to just below 35000 then continue bearish up until this week. The bullish move was the market pricing in the lower yearly CPI(Consumer Price Index) and inflation data deeming the markets optimistic. The following day we saw us30 entirely correct this move then continue bearish due to the FOMC meeting and another 50 bps rate hike. Price is now sitting slightly below 33k, while we are in this range between 33k- 32500 we can only validate a potential direction once we get a clean break and closure outside the range in either direction. This is because due to the holiday season and the end of a business year the markets can become a lot more eliquid and volatile