SPY HIGHER FOR LONGER

The feds came out and said no cuts for 2023 of course we knew that but a lot of rumors have been telling people that a pivot is good for the market. The day they pivot “cut rates” the stock market will crash because it means something is broken. So now we have to price in the February and March hikes of 25 bps each. Also the pricing in for a recession deep or short who knows. So mess around and find out real quick things are going to get bumpy. This consolidation looks like past ones highlighted in the circles we have a outside inside bar combo on the daily and with Fridays job reports getting so much attention it should give us some direction for the month.
As always trade what’s in front of you good luck