According to @stocktalkweekly, SPY has broken below its daily 50-day simple moving average while still defending the larger trend at the weekly 9EMA, highlighting key support and resistance levels for short-term traders (50SMA, 21EMA, weekly 9EMA). source: @stocktalkweekly. The author adds that bulls must step up into the end of the week with CPI as a potential catalyst, and that continued tech leadership remains critical for the broader market bid. source: @stocktalkweekly. The author also notes SPY failed to reclaim all-time highs and was rejected below the 21EMA, signaling fragile momentum that is not favorable for bulls. source: @stocktalkweekly. For crypto traders, elevated stock–crypto co-movement means weaker equity momentum can weigh on BTC and ETH performance, as documented by IMF research showing stronger post-2020 correlations between Bitcoin and U.S. equities. source: International Monetary Fund. CPI is released by the U.S. Bureau of Labor Statistics and often serves as a macro volatility trigger closely watched by both equity and crypto markets. source: U.S. Bureau of Labor Statistics.