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rsp?

I don't follow YM closely, but it's quite the laggard lately...

Mid range pullback. Looks like a good LRL before the final squirt.

5450 hits! Surely this can't go any higher? What a short entry. LOL.

I'm not sure if anyone cares to be honest. LOL. At least I don't. Personally, I'm more interested in discussing where the market might be going versus actual trades as I don't learn nothing from a trade posted without any reasoning behind it. Don't be shy and post whatever you like.

Predictably, bears will view any pullback as a top and will watch their stops blown out breakeven or worse once again. Today is long only as long as the LOD holds.

I posted some numbers in another thread. Long with a stop below the LOD (and a re-entry if it's a false break) seems like a good trade to me, although it feels overdone here for many. Color me surprised if we don't hit at least 5450 today. Even 5500 is possible if FOMO kicks in. CPI Wednesday...

Would probably need a T&S to confirm, but there does not appear to have been much if any transactions at all during that spike. An instant 29.75 point 10-volume candle. Instant 30 point loss for any holding short into the release.

WTF is even a 0.1 % reduction in CPI (a number that is highly likely manipulated anyway)? In Norway, CPI came in at 3 % this month. But I see plenty of people posting examples of products that have had price increases of 50 % during the last year or so.

Yeah. That went as expected assuming a "good" number. Did anyone else's charts freeze today? I had no updates for 10 seconds or so on two separate streams (TV and Ninja), but could see the latest quoted price on the DOM. Don't think I've seen that happen in the past on similar unusual spike...

I won't claim victory yet and say it went as predicted as I couldn't possibly predict the number (although I had my suspicions), but the anticipated pattern is playing out as expected so far. CPI came in 0.1 % below forecast, so obviously that was good news. The shocker would be if today...

The last time we rallied on CPI (May), it was an instant 30 point 5-minute candle. No counter moves. Prior to that, there was a 20 point counter move post-release before another deep pullback and then a rally. So, holding into this might be quite risky when you know that your stop could have...

I'm sure a lot of bears are selling into this top. Low risk entry!

Honestly, it's guesswork at this point, but yes, that's my guess, too. Even if the number meets the forecast (which isn't really low per se), I'm sure it rallies. I think the number would have to be a catastrophe for the market to tank. And I'm sure nobody would want that at this point. :)

Seems like the market is breaking out and those bands have no choice but to adjust? :)

I think the largest CPI reading in Norway was around 6 %. No way that's correct. Plenty of items in my own basket have even doubled over the last few years. I saw a post from that clown economist Paul Krugman who was showing a graph where rent, fuel, food, etc. was excluded saying inflation...

Could be. I'm getting too bullish here, so I appreciate the alternative view. I don't trust those numbers anyway. Pretty sure they're manipulated as they see fit. Anyway, it's a coin toss at this point. Don't think I'll take a chance on any positions into that release anyway. The reactions...

Nah. Everyone wants to be long into the anticipated CPI rally. :) Big up day tomorrow unless the CPI comes out hot. CPI Wednesday. | Elite Trader Could be. My anticipated move for today was higher into Wednesday. I posted it in the thread above yesterday. That's why I was leaning so...

Inch into Wednesday - check. ES closed up 11,25 points today / + 0,21 % at 5384. If we rally tomorrow... 1 % = 5438 1,5 % = 5465 2 % = 5491 If we drop - circa 5300 for a 1,5 % down looks like a probable target. I'm sure that number will come out just beautiful, though. :)