SPY Trading Insights: Key Levels to Watch This Week (E108)

what a market we are currently experiencing! SPY is trading at 658, where it needs to break above 660 to begin its ascent toward more significant resistance levels. This week, we have very important data coming out, including the CPI print and jobless claims, as well as the FOMC meeting minutes and the 10-year note auction, all of which could influence market sentiment drastically. In addition, the upcoming announcements may also provide insights into inflation trends and the overall health of the economy. Meanwhile, BTC is continuing to trade at 68, where it may begin its path to recovery; however, I believe it still needs to go lower before finding a stable support level and initiating a sustainable upward trend. In the real estate sector, not much movement is happening presently; interest rates need to come down significantly to allow new entrants into the market and stimulate buying activity, as many potential homeowners are currently sidelined due to elevated borrowing costs.