CPI Tomorrow!

CPI Market moving event – be careful – some platforms may see higher day trade margins until after the release and “smoke clearing”.

CPI

Here is my bias, stated plainly. I follow the market — I do not lead it. The market sold off this week, but the larger trend has not broken. A short-term top usually behaves the same way: it sells off, builds back, and then either takes out the previous high or it doesn’t.

If it does, the uptrend is still in charge, and the dip-buyers were right. If it can’t, that is often the start of a more meaningful downturn, and the levels start mattering a lot. I am not going to call which one we get.

I am going to let the levels tell me — SPX 7,330 on the downside, the prior high on the upside, SOX behavior at the 20-day SMA, and BTC behavior around the February low. The third option is finding support and consolidation.

Look for the CPI Tomorrow!

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Cannon Edge — Your Daily Futures Snapshot for June 10th

Daily Levels for June 10th

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