We have heavy a macro week ahead of us with inflationary data, the kick off to earnings season and more than a half a dozen Fed speakers on tap this week. Matt and Mark talked on the Trading Justice podcast yesterday (listen here) about how the CPI report might produce a bigger move this go around than it has in recent months. Yields were in focus last week as the started moving up and could move significantly one direction or another after the CPI. This extra emphasis on yields could create a chain effect where stocks have a bigger range on CPI day. This will be discussed on the Halftime Report today.

Gold is an area that the team breaks down every day on the Halftime Report and the pattern development is certainly interesting. Some interesting chatter over the weekend of an official announcement coming in August at the BRICS summit of a new trading currency back by gold.  This obviously would be huge news. Gold has a way of sniffing out developments and the recent support level building is interesting to say the least.

Earnings season is always a big one so be sure to check out the Trading Justice podcast and tune in every day to Halftime Report to get world class earnings analysis. Have a great week everyone!

Chart of the Day: S&P 500 (SPY)

 This really is an interesting pattern. Is it a continuation pattern for the bulls? Start of a potential reversal pattern for the bears? We will find out in the next candle or two in the coming days as price starts the week below daily EMAs but above the 20-day moving average.

Today’s lineup

Traders Lounge 11 AM EST

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Halftime Report 12:30 PM EST

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Weekend Reports

Watch the Stock, Options, Commodity, and Tackle Newsletter Reports to help you prepare for the week.

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