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.
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CPI Aftermath
I am not getting bullish at the highs but rather looking at where the CPI is setting up the short entries.
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?
Tomorrow should be a big day!
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Tomorrow should be a big day!
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.
2008 and 2022 crazy similarities
Recently the SPY has been following in lockstep the patterns that happened in 2008 before the crash. With CPI tomorrow, it will be fascinating to see if those similarities continue. My read on the UVXY and from 2008 says that we should wait just a little longer before seeing the market really roll over, but it looks like it’s coming. TSLA is leading the way to the short side and I think big names like AAPL and COST are next.
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.
The CPI Reset
The ES opened the week @ 3750 and is trading there again ahead of the meaningful CPI number tomorrow. I’ll try to interpret the charts but remind us all that anything can happen tomorrow morning on the report. Meanwhile, Corn remains soft and Cocoa bid. Energy is taking a breath and the Treasuries appear ready for a bounce.
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.