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

Fed's Favorite Inflation Gauge

Please click here for an enlarged chart of SPDR 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...