Elliott Wave Science Meets the Consumer Price Index

It would be awesome if TradingView offered a candlestick chart for CPI but considering its only updated once per month, maybe the line graph/chart is the best option (not sure how that works). As for the data available to me, I've done a best effort markup using the science of Elliott Wave Theory. Considering the fluctuations seen on the M(onthly) chart, I believe its possible that CPI is sitting in the midst of a shallow Wave 4 correction. With this in mind, I find it possible that the number stretches into the low-mid 7.xx range between now and March. From there we may see a 2023 low within the 4.xx level.

I will share my thoughts here as I know there is much interest in "what will the CPI numbers be?"... Being that this CPI data is directly based on the actions of humans and the habits that we act on, it should work pretty well with Elliott Wave Theory. I will keep this post fluid and apply analytical updates as monthly results are publicly announced.

Remember these three important things: 1) trade the chart instead of the news and 2) stay safe /3) don't drown!