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SPX/USD — CPI Relief Fuels Equity Bounce

Key Highlights
• S&P snaps four-day losing streak
• Softer CPI revives rate-cut optimism
• Micron guidance reignites AI interest
• Rally tempered by year-end positioning

Market Overview
US equities rebounded as softer inflation supported the “Goldilocks” narrative of easing prices without recession risk. Strong earnings guidance from Micron helped stabilize sentiment after recent AI-driven selloffs.

Technical Outlook (H4)
• Stochastic rolling from overbought
• Price below 20-period MA
• Recovery losing short-term momentum

Key Levels
Resistance: 6832.72; 6894.47
Support: 6725.32; 6667.91

Fremora Takeaway
SPX recovery remains corrective unless price reclaims 6,830. CPI relief helped sentiment, but follow-through looks limited ahead of holidays.

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USO/USD (WTI) — Geopolitics Support, Oversupply Dominates

Key Highlights
• Oil stabilizes near $56 after selloff
• Venezuela blockade offers temporary support
• Russia sanctions risk offsets peace talk headlines
• Oversupply narrative remains dominant

Market Overview
WTI trades near $56 as geopolitical risks offset structural oversupply concerns. While sanctions and blockades create headline support, markets remain focused on persistent surplus forecasts into 2026.

Technical Outlook (H4)
• Stochastic approaching oversold
• Price near 20-period MA
• Weak trend with fading downside momentum

Key Levels
Resistance: 56.78; 57.76
Support: 55.02; 54.06

Fremora Takeaway
Oil remains vulnerable despite geopolitical noise. Any rally toward resistance likely fades unless supply cuts materialize.