#NAS #DailyReview #DailyOutlook
CPI release for today was lower than expected which means that the price of goods has come down a bit. This is implying that something the Feds and the government is doing is working (questionable still).
8:30am
USD
Core CPI m/m
0.2% 0.3% 0.3%
USD
CPI m/m
0.0% 0.1% 0.4%
USD
CPI y/y
3.2% 3.3% 3.7%
We have PPI and Retail sales tomorrow. Then Thursday we will have Unemployment Claims so that will definitely move the markets on those days for sure.
This setup played out Number 1 Taking the PWH should still be at risk. We only tapped it and there may be reason to push through. News on tomorrow could change it all so be careful. We left a huge 4H+FVG, a PDH, and a liquidity pool to set our range on the LTF ($)
#1 Because we closed so high up on news my initial thought is for a LTF pullback but given that the PPI is tomorrow we may stall until the release. Either way we have the PDH (tapping as I'm typing) and PWH from the 7/17/23 and a W-FVG above us. Once the PPI release happens, all bets are off and the market will do as it pleases.
#2 Selling for now isn't an option at the moment but taking the sell into the $ or 4H+FVG on the lower time frame may be a move on the 15m chart and below.
4H chart
CPI release for today was lower than expected which means that the price of goods has come down a bit. This is implying that something the Feds and the government is doing is working (questionable still).
8:30am
USD
Core CPI m/m
0.2% 0.3% 0.3%
USD
CPI m/m
0.0% 0.1% 0.4%
USD
CPI y/y
3.2% 3.3% 3.7%
We have PPI and Retail sales tomorrow. Then Thursday we will have Unemployment Claims so that will definitely move the markets on those days for sure.
This setup played out Number 1 Taking the PWH should still be at risk. We only tapped it and there may be reason to push through. News on tomorrow could change it all so be careful. We left a huge 4H+FVG, a PDH, and a liquidity pool to set our range on the LTF ($)
#1 Because we closed so high up on news my initial thought is for a LTF pullback but given that the PPI is tomorrow we may stall until the release. Either way we have the PDH (tapping as I'm typing) and PWH from the 7/17/23 and a W-FVG above us. Once the PPI release happens, all bets are off and the market will do as it pleases.
#2 Selling for now isn't an option at the moment but taking the sell into the $ or 4H+FVG on the lower time frame may be a move on the 15m chart and below.
4H chart
