Midday Update: 2022-11-15

A pop and drop from the PPI but not a confirmed reversal just yet

I certainly am pleased with the fade of the pop of the PPI but it is too early for bears to take a victory lap while 3963 SPX holds as support. 3963 and 4023 are part of a growth ring of sorts measured up from the November 9th low. While 3963 holds, bulls can hope to eventually push past 4023 and grind to 4100. I would rather see bears come back late th…