When the mood is so gloomy, a little bit uprise in the market goes a long way. it can calm the market, and it can persuade those undecided to jump in.

Especially in a day when the inflation data was not so great.

The bear and bull had chosen a good place to wage the battle. If we cannot hold on 50 days MA, the market could drop to the August low again, and if we can hold and go up, we may see 13800 for DOW and 1520 for SPY in a short few sessions.

According to news media, there are some improvement in the credit market after FED\'s action yesterday. The credit spread between LIBOR and FED FUND rate has shrinked, which, in my view, is the main contributor to today\'s reverse, hopefully, we can see more actions from FED, that would add some fuel for the BULL.

Tomorrow is an even more important day for inflation watch. If the recent trend holds, we will see a hot headline CPI and a cool core CPI data. If the news report about stores to cut their price earlier this year to attract shoppers,then, we may even have a positive surprise on the core CPI, which should make FED\'s job easier and make traders happier.


let\'s hope