Monday’s trade was very much in line with expectations with both the NQ and ES put in solid up days. I have labeled the minute 4th waves as complete at the Globlex lows. I discuss the possible paths the markets can take in response to the release of the CPI data tomorrow morning at 8:30 AM EST. I put into the mix a discussion on trading tomorrow morning.
For tomorrow, again, CPI data will be released at 8:30 AM EST — expect a strong reaction in either or both directions.