PCE Data LOOMS! 🚨 How to Play the Market Drift Before Fed's Next Signal

Welcome to Trading The Close! Today, the major indices continued to drift lower on light volume, leading to a noticeable reduction in volatility over the last couple of trading days. This quiet market action is the calm before the storm, as the most critical piece of inflation data, the Core PCE Price Index MoM, is set for release tomorrow morning. The Core PCE is the Federal Reserve's preferred inflation gauge, and this is one of the last data releases before the highly anticipated FOMC meeting next week. Currently, the CME Fed Watch Tool shows an 87% chance of an interest rate cut next week! We analyze what the market expects from the PCE report and how it will solidify or shatter the certainty of a rate cut.

📈 Key Movers & Technical Divergences: Dollar General ($DG) Earnings Pop: We cover the big pop on Dollar General ($DG) after reporting better-than-expected earnings and guidance [Source 3.1, 3.2]. We analyze the technical breakout levels and determine if the stock can sustain this rally amidst broader retail sector volatility. Precious Metal Warning: We examine the Platinum chart, which still shows a weekly topping tail that remains intact. This bearish signal suggests a possible reversal despite Silver's recent breakout, flashing a key caution signal for the precious metals space [Source 2.3, 2.5].IRBT & Tech Watch: We provide a quick update on iRobot ($IRBT) to see if it is participating in the light volume bounce or showing structural weakness.

💰 Crypto Breakouts: The crypto market is showing a strong technical divergence from the quiet equity markets: Solana ($SOL) & Ethereum ($ETHUSD): We break down the technical analysis on both Solana and Ethereum, which are showing strong signs of breaking out or holding critical support [Source 4.2]. We identify the next major price targets for these key altcoins as they potentially lead the next crypto rally.

🎯 Tickers and Markets Covered Today: We provide comprehensive technical analysis across indices, key stocks, crypto, and commodities to establish key support and resistance. SPX, QQQ, SMH, IWMDG (Earnings Breakout), Platinum (Weekly Topping Tail), IRBT (Technical Analysis), Ethereum, Solana (Breakout Analysis), Bitcoin, Gold, Silver, US Oil, Natural Gas.

Disclaimer: This show is for educational and entertainment purposes only. The information provided is not financial advice. Trading stocks and options involves substantial risk, and you can lose money. Always conduct your own research and consult with a professional financial advisor.

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