To gain an edge, this is what you need to know today.

Fed's Favorite Inflation Gauge

Please click here for an enlarged chart ofSPDR S&P 500 ETF Trust(NYSE:SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows that the stock market is consolidating between the resistance zone and support zone.
• RSI on the chart shows that the stock market can go either way from here.
• This morning, the stock market dodged a big bullet. The bullet was the fear that PCE, the Fed's favorite inflation gauge, would come...