Week of the 20th October 2024. I am partially Bullish for $SPY. I expect a push upward around 588 to the tip of the channel and then a flush towards mid 575, then we begin a new momentum towards 600 before a final EOY flush to lower high. High of the week is 588 and Maximum low of 562.
Trade cautiously. This is not financial advice!!
SPY is still within channel with an expected bearish move towards 385 and 387. a quick buy around the area with an expected break of path upward above 395 will invalidate the near term bearish argument. Currently Bearish
Fake bullish triangle is almost formed, market will react react bullishly to thursday's CPI which is expected to be around YOY 6.5, analyst will be able to guage effect of plunging oil prices ( these seem to show slowly on CPI 1-2Mths) and customer food prices. Rents are expected to stay elevated with a tight job market. SPY range is 408-378. we expect a down turn...
KSS - Digitalization issues slated to be resolved by 3rd quarter
China production disruption caused by electrical outages only means stores need to order 3months ahead, KSS was on it on time.
Strong support @45, company with over 200 stores is still undervalued at $7 billion more run left to true value around $23 billion.
Up 173% this year alone, xmas edging...
