Trading insight: Don’t believe the hype. The news is never as bad as it seems

Source: Tradingview May 15 2023 6:34 UTC

The above table illustrates the 52 week percentage performance of key global stock market indices.

Market Talk

For at least two years high inflation has dominated the financial headlines, meanwhile, global stock indices have been positive

• Consumer spending has been increasing month on month during the last year

The above chart illustrates the US consumer spending month on month trend.

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Today’s economic calendar

Sweden’s inflation moved lower, CPIF decreased 0.4% to 7.6% year on year

SEK FX Market reaction:

• SEK weakened slightly against the EUR and the USD following the latest Swedish inflation data announcement

Source: TradingView / J. Knobel May 15 2023 6:18 UTC

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Trading bullets

SPX500 Index upside trading range breakout can’t be ruled out in the medium term (26-49 days)

• SPX500 Index current price 4,136 seems to be in a holding pattern “consolidation” mode or trading range. Should the price break above the key resistance at 4,195, the prospects for an extension move toward the 4,310s can not be ruled out. Downside risk below 4,042 could signal the start of a bear market.