Watch This Giant Wedge

The market is going to breakout one way or the other and we will know soon.

PRE-OPEN MARKET COMMENTS TUESDAY – The market found support at the up trendline from July last week and it was able to bounce above the major moving averages. This morning that bounce will be challenged after “hot” inflation numbers and we are going to test the 100-day and 50-day MAs. A week from tomorrow the Fed is expected to raise rates by 75 basis points and the CPI will keep them in tightening mode.

Daily Bulletin Continues...