Weekly Plan April 10 #CPI

WEEKLY PLAN + #CPI GAMEPLAN

Daily/Weekly Levels

Expecting support into $4076 if we take a dip.

$4154 is going to be a resistance on futures as well as $4174-$4176 will be major resistance unless broken on a daily time frame close over these levels.

Possibly cup and handle formation below but #CPI plays a big part into this and that whole GAMEPLAN/EXAMPLE IS BELOW.

Follow what is moving! DO NOT GO AGAINST THE TREND.

#CPI $SPY Thread

What you need to know for this week’s #CPI

Thing to note:

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

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!

Here is another Example from #CPI:

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.

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

Next Example: Data here brought us lower and then we had a strong reversal to the upside and we continued up from $3510 to $3705 in under 1 day of trading

Inflation numbers came in lower.

Need to be cautious in every aspect while playing events. Small size, take profits, raise stops on runners. Wait for entry and exit, trade the chart, volume and news.

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