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On January 15, eurozone government bond yields continued to fall due to US CPI data. Michael Brown, senior research strategist at Pepperstone, said in a report that the US CPI report in December painted a complex picture of price pressures in the US economy. The CPI data are not particularly helpful for the broader discussion. Instead, they help to reiterate that underlying price pressures remain relatively stubborn and the path back to the 2% inflation target will be relatively turbulent.Airbus CEO: Production of 75 single-aisle aircraft per month is a "prudent level" and will be maintained at that level in the coming years.On January 15, the core CPI was lower than expected, rising 0.2% month-on-month in December, compared with expectations of 0.3%. The core CPI monthly rate fell after rising 0.3% for four consecutive months, which is the direction the Fed wants to see. After last weeks strong December employment report, investors are more worried that economic momentum may prevent the Fed from further cutting interest rates throughout the year. Now, the Fed is generally inclined to at least further cut interest rates. Traders are now betting that the Fed has less than a one-fifth chance of not cutting interest rates at all in 2025, lower than the one-quarter before the CPI.On January 15th, local time on the 15th, Venezuelan Foreign Minister Hill announced on social media that the Venezuelan embassy in Oslo, Norway was invaded and damaged that day. He urged the Norwegian side to immediately find the person responsible for the incident.Citigroup (CN) CFO: Strong investment banking activity is expected in 2025.

Short SPX: Top Trade Opportunities

Skylar Shaw

Apr 15, 2022 10:51

It's possible that the shot across the bow is to blame. The rally, which started in late March, will be closely monitored since it might be a "sucker's rally" rather than a relief rally. If this is the case, Q2 is likely to see a lower high.


Price isn't expected to rise much over 4600, if at all. A rally that extends beyond that point may still fail as a double-top. The market normally does not retrace more than 60-70 percent of the slide off the record high to reach the classic topping sequence of a high, major drop, lower-high before the massive bear market sell-off.

WEEKLY CHART OF THE S&P 500

It may take some time for the downward trend to become an outright drop. The longer it goes on, the bigger the sell-off is going to be. It's preferable for markets to have fast, painful drops rather than long topping cycles that finally lead to quick selling.


This might be a new leg higher to a new record high, but the background for a massive top seems to be as strong as it has been in recent history. If this is the case, the whole year should be turbulent, providing traders with plenty of possibilities.

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