CPI Report Impact: SPY Trading Insights and Bitcoin’s Future (E96)

SPY trading at 677 with some resistance at 679, suggesting a potential struggle for upward momentum. Could it make new ATH as we get ready for the anticipated Santa Claus rally, which historically brings in a wave of bullish sentiment? Meanwhile, Bitcoin is trading at 105k with very little signs of a breakout, leaving investors wondering if it can regain its previous highs or if it will consolidate further before the next significant move. As for interest rates, they remain stagnant, ranging from the low 6s to the mid 6’s, which could have implications for borrowing costs and consumer spending. This week, be on the lookout for the CPI report; it will provide valuable insights and serve as a great reflection of where we are headed economically, potentially influencing market sentiment as traders navigate through the holiday season.