For Thursday the technical indicators are more bearish than earlier in the week. While the closing candlestick still points to a possible bounce attempt yet again, it also indicates a lower day is ahead.
The Lower Bollinger Band falling rapidly and all major moving averages falling, signals that a move lower could be starting perhaps as soon as Wednesday. This is setting the index up to close below 3800 on Thursday especially as inflation readings on Thursday probably will not show a decline or that inflation has peaked, as many analysts have been advising.
8:30 PCE Inflation (monthly)
8:30 Core PCE Inflation (monthly)
8:30 PCE Inflation year-over-year
8:30 Core PCE Inflation year-over-year
8:30 Real disposable income
8:30 Real consumer spending
8:30 Weekly Initial Unemployment Insurance Claims
9:45 Chicago PMI