S&P500 Immediately: Indices Regular, Nvidia and AMD Weigh on Tech Shares…

On the Nasdaq 100, 23,845 is the highest to beat, with near-term assist down at 23,310. A deeper drop would put 22,775 and the 50-day at 22,755 in play.

What’s the market actually targeted on?

Make no mistake — it’s CPI tomorrow, PPI Thursday, after which the countdown to Jackson Gap. Inflation is available in scorching and you may kiss this sluggish grind greater goodbye, no less than quickly. Cooler numbers? Then the bulls get extra ammo. That being mentioned, we’re nonetheless in August, which will be uneven, and regardless of how dangerous the information will get, patrons on dips have been protecting this market afloat.

Backside line — right this moment seems like positioning forward of the info. We’re nonetheless shut sufficient to highs that pullbacks may appear to be shopping for alternatives, however we’ll see how that performs out as soon as the numbers hit.

Extra Data in our Financial Calendar.