Positioning for tomorrow morning's
release of the March Consumer Price Index,
traders have "coiled" the S+ P 500 into a pattern
in which price can break either way,on Wed April 12
Simply put....
There is a bullish "Triple Bottom" at the 4070 area
on the 10 Day/ 30 Minute Chart
and that is driving " money" to buy the market today.
Conversely, there is a bearish "Double Top" at the 4125 area.
which should act a strong resistance should traders take today's rally up to form a potential "Triple Top"
Thus the potential range" from CPI Wednesday is 50 S+P Points Plus !
"Price breakouts" on either side of "identified" S+P Support/Resistance above,... could be "significant" !
A suggestion is to watch the VIX very closely late today for any clues given.
Volatility traders are often some of the best
in the business,in positioning overnight,
for a big number release, like the CPI report tomorrow.
Best of Luck
S+P 500 NOON OPEN
4113.31
THE_UNWIND
WOODS OF CONNECTICUT
release of the March Consumer Price Index,
traders have "coiled" the S+ P 500 into a pattern
in which price can break either way,on Wed April 12
Simply put....
There is a bullish "Triple Bottom" at the 4070 area
on the 10 Day/ 30 Minute Chart
and that is driving " money" to buy the market today.
Conversely, there is a bearish "Double Top" at the 4125 area.
which should act a strong resistance should traders take today's rally up to form a potential "Triple Top"
Thus the potential range" from CPI Wednesday is 50 S+P Points Plus !
"Price breakouts" on either side of "identified" S+P Support/Resistance above,... could be "significant" !
A suggestion is to watch the VIX very closely late today for any clues given.
Volatility traders are often some of the best
in the business,in positioning overnight,
for a big number release, like the CPI report tomorrow.
Best of Luck
S+P 500 NOON OPEN
4113.31
THE_UNWIND
WOODS OF CONNECTICUT