ES Hits Buy-Stops and Rides to 4800

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Our View

It has been an interesting start to the year. After riding a nine-week win streak into 2024, the S&P 500 fell in four straight sessions and the Nasdaq fell in five. 

Stocks found their footing on Friday, then enjoyed a powerful rally on Monday. As nice as the rally was, the next few actions are just noise compared to later in the week.

That’s as we get the monthly CPI report on Thursday morning, then JPM, C, WFC, BAC and others kick off earnings on Friday. 

Let’s keep today short, as the focus will soon shift to those events.