Weekly Outlook 12/26/22
An unchanged week
Last weeks price action
Little to no progress was made in terms of where we closed at last week to where we closed the week prior. Both sides of value were broken but brought small momentum especially with trading above 3912 Value Shift level on Wednesday just to meet it’s fate of sell into PCE. Thursday 0830 EST PCE released bringing sharp move in both directions. In the end we sold lower as expected with PCE increasing showing the increase of costs to produce will be pushed to consumers. In the end this adds to our thesis that Inflation has not peaked and little to no progress has been made on Inflation. Here was the PCE release which all my news I get real-time for free from Walter over on Twitter.
