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Benzinga
160 days

How To Trade SPY And Tech Leaders As Market Focuses On CPI Data

1. SPY trades near key level of 560.83, seeking bullish push. 2. A move above 561.90 may lead to targets of 563.23 and 564.29. 3. Failure to hold 560.83 could drive SPY to 559.75 or lower. 4. February CPI report and rate decisions anticipated, heightening market volatility. 5. Market strategies should adapt based on price movements and trends.

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FAQ

Why Bullish?

SPY is testing a crucial support level and potential bullish breakout. Such levels have historically resulted in upward trends or reversals.

How important is it?

The close monitoring of SPY's key levels and market influences suggests a significant impact potential. Insights into buy and sell triggers can guide traders.

Why Short Term?

Immediate price targets suggest volatility within trading sessions. Influencing factors such as CPI and rate decisions can shift market sentiment quickly.

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