X discussionSPY closed flat near 778 after big-bank earnings opened higher and got sold, leaving the tape with no chase. September CPI prints Wednesday with Street consensus clustered near 3.6%, and traders treat the print as the binary that either clears a new all-time high or flushes the index toward 765.
BullDips get bought while SPY holds daily closes above 771. A constructive close just below the ATH keeps 785 mapped as the next upside magnet if levels hold after the print.
BearWeak internals leave buy-the-dip on thin ice into a hot print. TICK and breadth stayed negative through Tuesday while money-market funds took in $166B in a week as cash parks instead of chasing highs.
Posts
Bull evidence
@Basssem666SPY closed well and targets 785; daily closes above 771 mean dips get bought for a new ATH
@EliteOptions2Two down days into CPI; if SPX holds 7800 after the print, uptrend into Friday with 7850 in play
@sparkle6193920CPI tomorrow arrives with heavily bullish options flow into and after the close
Bear evidence
@TradeBrigadeCoTICK and breadth favor bears; weak memes and semis mean BTFD only works for a few days
@stockmomMoney-market funds pulled in $166B in a week as big money gets paid ~4% to wait instead of chase highs
Context
@NoRiskNoPremiumSPY sits just below all-time highs into CPI: new ATH or 765 first