The Post-CPI Relief Rally: Reading SPY's Bounce Into a Binary FOMC
Friday's S&P 500 close at 7,656.98, up 0.86% and ending a four-session slide, deserves to be read as a relief rally into an event rather than a fresh trend. The bounce was real, with nine of eleven sectors higher and the equal-weight fund keeping pace with the cap-weighted index, but the market now sits one decision away from a very different tape: the Federal Reserve concludes its two-day meeting Tuesday, and pricing near a coin-flip between hold and hike makes the outcome genuinely binary. Understanding the bounce means separating what Friday actually proved from what it did not, and then mapping the two most likely paths for the week ahead.
Key Takeaways SPY closed at $764.29 Friday, up 0.…
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