Morning Market Notes 01-13-25
Market Calendar
$SPX & $QQQ
$QQQ & $SPX 01-13 levels
Welcome to another CPI week.
The $SPX is implied to open below 5800, placing it in a limbo area until 5750. These two levels are the key ones to watch ahead of this week’s data.
A break above 5800 with strength could fuel some upside, as there isn’t much resistance for at least 100 points. Conversely, a break below 5750 could open the door to a test of 5700, the next strong support.
Currently, we’re below the put wall at 5800. Approach trading cautiously in this zone.
Let’s have a sesh.
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