Wednesday, September 13, 2023

SPX Update: 3rd Target in a Row Captured; Inflation Prediction Coming to Pass

 On Monday, SPX rallied up into its next real-time target zone, then reversed:

In other news, back in July, I made a prediction -- I didn't specify this at the time (it seemed self-evident), but that prediction was predicated on another prediction:  The first prediction was that oil had broken out of a basing pattern and thus would continue rallying.  That happened.  The second prediction was that this would cause inflation to begin heating up again.  And while it took a minute to make itself known in the broader economy, today, we have confirmation that that, too, has happened.

Not much to add beyond that.  Trade safe.

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