Market Insights: CPI and Santa Claus Rally Ahead (E98)

Get ready for the holidays! With the CPI coming in at 2.6% lower than expected, there’s a sense of optimism in the market that could pave the way for a significant Santa Claus rally. This month, be on the lookout for the initial jobless claims report, as it could provide further insights into the economic landscape and influence investor sentiment. SPY has solid support at 684, which bodes well as it heads toward new highs; however, it may encounter resistance at 689, making this an exciting time for traders. Meanwhile, BTC is currently trading below 87k, prompting many to speculate on its next move in this volatile market. As we approach the end of the year, keep a close eye on market trends and developments that could shape the investment landscape for 2024.