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Stagflation Reality Check: Nvidia Earnings & The S&P 500's Critical Floor
Description
📉 The weekly candle closed as a Weak Rejection at the 7,000 level. With GDP missing at 1.4% and PCE heating up to 2.9%, the stagflation narrative has arrived. A technical "Head and Shoulders" pattern is forming on the daily—this isn't just a breather; it’s a structural shift.
đź“… The Macro Roadmap:
🚀 Nvidia Earnings: The "World’s Most Important Stock" moment.
đź“Š Tuesday: CB Consumer Confidence.
🏗️ Thursday: Durable Goods Orders.
🎯 Friday: US PPI—the final boss for the Fed’s narrative.
đź”” The Game Plan:
The easy money has been made. Watch the 6,185 pivot on the SPX; a break below signals a transition from bull cycle to structural correction. With institutional USD shorts at record levels, the "Pain Trade" is a massive short squeeze. Stay liquid and don't chase tech into multiple exhaustion.