We have a nice Friday Rally on our hands with the S&P above 4000! 4056 is the previous low which will bring resistance. Nasdaq resistance levels are highlighted on the Morning Express Research:
April was not intended to be an inflection point for inflation, however Jerome Powell reiterated the 50 basis point hikes. June July & August are the inflection points, which will be released in July August & September.
Short Term Bottom Signs:
-S&P down 20% for the year & reversed.
-Nasdaq held the 50% Fibonacci Retracement from the Pandemic Lows to All Time Highs
-Vix Divergence Crude is trading higher, but $111-$111.50 is heavy resistance.
Blue Line Futures is re-positioning in Gold and Silver with HARD STOPS. If China comes off of lockdowns, it will be a tailwind for the metals.
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