S&P 500 Hit a Record… Then Oil Hit $102 🛢️ 8,000 or 7,650?
S&P 500 after its first record close since August (7,822.72 on Oct 6): oil above $102 and rising yields pulled it back to the trendline. Trigger, targets and invalidation for CPI week.
The S&P 500 made its first record close since August (7,822.72) on Oct 6. Then oil above $102 and a spike in Treasury yields dragged it back to its rising trendline. Next week is packed: big banks Tuesday, CPI Wednesday, PPI and TSMC Thursday, options expiry Friday. Hold 7,700 and a close above 7,823 opens 7,900 and 8,000. A hot CPI could send it to 7,650.