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Inflation Figures Drive Markets

Published 11/11/2021, 12:45 AM
Updated 07/09/2023, 06:31 AM
EEM
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SPY
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QQQ
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IWM
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XRT
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TLT
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Wednesday was a big day, triggered by the white-hot inflation number. Here are some particularly important exchange-traded funds with a few remarks in each caption……….

EEM Chart

Emerging Markets have been steadily trending lower for months

IWM Chart

The small caps broke above resistance last week; the big question is whether they will find support again at the horizontal or if they re-penetrate the range, thus negating the breakout

QQQ Chart

The NASDAQ is weakening within its channel, as predicted

S&P 500 ETF Chart

The S&P nailed the “tip of the spear” of its now-broken wedge and has the lower trendline as medium-term support

TLT Chart

Bonds went into a total free-fall, although this market has been an utter mess for months with no clear next direction

XRT Chart
Retail, another recent short-sale idea, is also weakening in the wake of tagging the upper trendline of its channel

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