Watching the Boeing action around CPI and the Fed
It's going to be a fascinating week with CPI tomorrow and the Fed on Wednesday. I'm keeping a close eye on industrials, specifically $BA. It's been range-bound for a bit now, and seeing it hover around the $217.25 mark, just slightly off its intraday high, suggests some underlying tension. With the macro data looming, any hawkish surprise from the Fed or hotter-than-expected inflation could easily push it down to retest those lower bounds it's seen lately, possibly towards $215.36. Conversely, a dovish pivot or cooling inflation could give it the momentum to break out past $222.57. It feels like a bellwether for how the market interprets the broader economic narrative right now, especially with its supply chain sensitivities. Just adding it to the 'potential mover' list rather than any immediate action.
I'm with you on keeping an eye on industrials, especially with the current macro backdrop. While CPI and the Fed are big drivers, it's worth considering the ongoing supply chain narratives affecting $BA directly as well. Could be some interesting interplay there regardless of the broader market moves.