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SPX jumps from 7436 to 7577 ahead of CPI, Scott Redler notes

SPX jumps from 7436 to 7577 ahead of CPI, Scott Redler notes
SPX rebounds as CPI decision looms

The SPX rallied sharply from 7436 to 7577, moving from an oversold to a neutral—or possibly overbought—position.

Scott Redler, Chief Strategic Officer at T3 Live and T3 Trading Group, identified 7630 as a key resistance level and suggested charts need more time to recover. Redler also indicated that upcoming CPI data at 8:30 could influence the next market move and recommended maintaining a tactical approach while expecting range-bound trading.

Earlier this week, Scott Redler highlighted a busy earnings calendar for major firms including TSLA and NFLX in a separate report. He has also identified the QQQ 200-day moving average as a pivotal technical area and noted $687 and $671 as important price points in a previous market update. Redler regularly comments on key technical levels and trading setups.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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