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Post CPI Analysis & Plan
By now I’m sure you know about the CPI report and the fact that the market rallied on the heels of it. What I would like to do next is answer the question, “Now what?” In tonight’s market update I will attempt to lay out a plan for the next leg as I see it likely shaping up.
AAPL decision near 155
Fibonacci and Voodoo Lines analysis point to an important decision level overhead. Holding 148 keeps 155 in focus.
Quick & Easy Adjustment
After CPI data was released it was pretty easy to see there was no longer a focus on being bearish. The day did end up trending pretty well and gave us 2 clean trade opportunities. Let’s review those, along with my favorite pick for Friday.
Short setups on my radar
The CPI rally is setting up shorts as the resistance closes in on overbought resistance levels and downtrend retracement levels.
What to expect?
In this video, we look at today’s all day selling pressure and try to figure out which way we are going. We have the big event tomorrow morning before the open of the CPI numbers. This will give us an idea of whether inflation is rising or falling. This in turn will tell the FED what they need to do as far as future interest rate hikes, so this is a big data point. How do we play this and what can we expect?
Look Out Below
The market is very weak and sold off into the CPI report coming tomorrow morning. While there might be a surprise move with that, the overall direction is down and I am seeing TSLA lead the way.
All about CPI from here
Since the beginning of the week, we have been preparing for the all important CPI report Thursday morning. Well, today the ES reset itself by trading back to the weekly open in preparation for the same. Will it be up or down? Of course that would be great to know but we can prepare for it with some targets for either and possibly both sides.
Did the VIX just give a buy signal?
The volatility contraction game has been in the lead for weeks but a big part of that shifted today, and it gives a signal that’s worth making note of.
Down goes the $DXY?
For the first time this year, we’re seeing signs of the trend in the dollar ready to crack. Could this been the “green light” that bulls have been waiting for? Let’s discuss.
Trading with Volume Support
This morning after the opening sell-off in the S&P the volume support signaled a buy, and that was the trade of the morning. What about the afternoon sell-off? We take a look at volume, volatility, and more for this walk-through.
