Stocks put in a strong bullish response after CPI data and the S&P 500 is threatening breakout from the 2022 bearish trendline that held the highs for most of last year.
The S&P 500, Nasdaq and Dow all produced bearish engulfing formations after failed breakouts last week. Can bears push into year-end, or will that have to wait as a 2023 theme?
Next week is a massive outlay of high impact risk events, with CPI on Tuesday and the Fed on Wednesday. Can bulls break the falling wedge that's taken all of 2022 to build in the S&P?
If stocks don't sell-off on bad news, there's probably something else going on. And for the Nasdaq and S&P 500, that may be a continued squeeze after bullish breaks of falling wedge formations.