Things are looking dicey for RSP with PPI and CPI holding the market’s tongue.
RSP has fallen roughly 3.95% from its highs, while the S&P 500 is being held up by concentrated leadership in megacap names such as Meta Platforms and Nvidia.


Technically, both SPX and RSP are still doing “okay”, in the sense that the uptrend isn’t broken… but it is surviving by a hair.
But that’s exactly why the upcoming PPI data today, and the CPI inflation data tomorrow is so important for equities.
If PPI and CPI come in contained, the hold case becomes stronger. If both come in hot and broad, the hike case becomes much stronger.
Then, there's ISM data and CPI to worry about; ultimately leading to the Federal Reserve's decision to...










