Midday Update: 2023-11-14
CPI miss sends equities soaring up
Before addressing the S&P 500, let us peek at crude. CL poked above 79.05 but fell back under. I still think this area would make a nice wave (IV) in an impulse down from the October 20th lower high. In the slightly bigger picture, I think crude is late in the first leg down in an ending diagonal (c) of [ii].
Checking in on bonds, we s…
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