Hello Everyone,
Quick Note: Yesterday we posted a triangle pattern in the trading community which suggested one more move up (which transpired overnight prior to the CPI report). I also posted a SPY daily chart showing supply zone just below 415 which was tagged pre-market in conjunction with overbought readings. On the report, the SPX traded down 100+ points in a few minutes and then continued down another 100 points. Today, the ES range exceeded 225 points and marked the largest selloff of the year. For overnight/tomorrow, I'm watching resistance on ES 3970-90 (remaining below target zone 3880-3900) with next resistance above 4010. Buckle up.
Please take a moment to look at the trade ideas.
