It will be a big week for earnings and economic data, likely setting the tone for the coming weeks. It feels like something has fundamentally shifted in this market, which appears to be churning at the top.Additionally, several bearish patterns have emerged in the S&P 500 over the past few weeks.A rising wedge pattern on the weekly chart and a declining RSI trend on the same timeframe are also bearish signals.
A higher-than-expected price index would significantly affect nominal growth and could impact rates. I guess the analysts’ estimates for the price index are too low and may come in higher than the 2% estimate.is expected to remain unchanged. Given the history of revisions in these reports, it’s hard to say what the final numbers will show.
There are 2.8 job openings for every entrant into the labor force—down from 3.0 openings in 2018, 2019, and early 2020 . Since JOLTS job openings dropped below 9 million, we’ve seen an increase in entrants. We may have reached a point where there aren’t enough job openings to absorb all new entrants every month. We’ll find out more when the job report is released on Friday.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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