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Note since the beginning of the year the S&P 500 has been in a channel marked by the two black horizontal lines that run across the chart. On June 2nd the S&P 500 broke above the top of the channel, which would be considered resistance, on high volume that was 216% above average volume, which is marked on the chart. The high volume on the breakout demonstrates that investors and traders were aware of the channel being broken and wanted to add to, or initiate positions.

June 11, 2023 One would think economic news would slow down after getting past last week’s debt limit deal that cut borrowing by $1.5 trillion. But this week we will be hearing more important economic numbers beginning on Tuesday. This week’s reports may have an impact on the markets. Tuesday 6/13: Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Wednesday 6/14 The Producer Price Index...