CPI: Consumer prices increased 4.9% from a year earlier, down from 5% in March 

May 10, 2023
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Good morning,

Spy was down .44% yesterday and as I mentioned yesterday, this is a trading range of $411-$414, SPY was bearish today closing
right on top of that critical support at $411. After the CPI we are going up big or down big and that will set the tone for the day.

If we gap down then SPY will moist likely go to $407 to $404. There is a gap at $396 as well. If we bounce from support it is possible that 

we could break $414 and then fill the gap at $414 and then $421. Let the price action tell us where we are going. React to the price action

breaking above or below critical support. And then execute your trade plan if we break $411 we are getting bearish until we get back above $414

and if we break $414 your staying Bullish until we break $411.

The Money Magicians
The Money Magicians Blog G. Allan Collins



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