We're a day late 7360 still the fence atm & we should've jumped it to go for the 7420/7400 last night We should go for it today
Today I'll expect 7330 to be used as a backtest Pretend that 7360 is a fence so hold up there for a bit Profit take for end of week etc Then go for 7400 by the end of the day (7420 at the open if I'm wrong & it runs early)
That fence still isn't market top (I'm using 7530 at end of month as market top for now & see how weak it looks from the first pullback. We could still do something tricky with a pump in early may before it starts to sell for June lows. But i'll assess later as we get closer. We still have option expiry next week but we could get to 7500 & still stay in our current trading range grind)
Also, bulls still haven't lost a fence since this all started
PPI last night was well under, so once again I now expect cpi to also be under for next print Interest rates might be dropping by the end of the year, earlier than expected
Ftse, Spx & DJ all made new highs this week Small caps/nasdaq just short Xjo in last place again playing catchup (then again we did sell off quite a bit with the last drop & will take us longer to recover)
(20min delay)