CPI Is Among Us!

A great day of trading occurred yesterday in where we had large movements up and down and definitely brought out the volatility from the bank news and other catalysts and thoughts over the weekend.

CPI Thread (What to Know)

1. #CPI $SPY Thread

   What you need to know for tomorrow’s #CPI

2. The Consumer Price Index (CPI) in August (Sep 13) reflected an 8.3% increase over last year and a 0.1% increase over the prior month, the Bureau of Labor Statistics reported Tuesday. Expectations were 8.1% Missed expectation $SPY FELL BIG!

4. 8.5% CPI Data in July (August 10th Meeting) Economists surveyed by Dow Jones were expecting headline CPI to increase 8.7% on an annual basis and 0.2% monthly. Beat Expectations and $SPY Ripped/Flagged then slowly went up rest of day.

5. #CPI usually inputs a minimum 1%+ move whether that is to the upside or downside on $SPY $SPX $ES_F

6. Seems to me in the past if beats expectations we get a rally and sustained slow grind up. If we miss expectations we fall hard (1 time we fell hard and bounced back to fill gap $70 point move) then died into end of day. $SPY $SPX #stocks #options #CPI #FOMC #futures #finance

   #CPI for all items rises 0.4% in September as shelter and food increase, gasoline falls $SPY

My Key Level Tomorrow is $3876.

Scenario 1: Any IB close over $3921-$3930 could be setting up for a higher move into $3954, $3963, $3976. I believe this will be a bullish sign over $3921-$3930. (IB is Initial Balance First Hour OF Trading)

Scenario 2: If we IB close under $3876 I would be looking for downside into lows again today. Then look for possible support around those lows. If broken we can see a larger move down.

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