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Good Tuesday morning,
Now that was a wild ride yesterday. We hope you stayed frosty (or fluid) with the tape! Prices were all over the map, and just like your favorite roller coaster, the ups and downs were violent. And the ride continues today! CPI was just released and futures popped almost 40 points, and we are now above the prior day's high! Please take note of the key levels below.
📊 In the profile pic and key levels, futures are back above the prior day's high at 6,431.50. This is the first key level. As long as price stays above this level, then buyers remain in control, so look for upper targets at 6,450 - 6,460. If buying pressure continues, then our extended targets at 6,470 - 6,480 would be in play. If sellers take price back below 6,431.50, then look for a move back down to the POC at 6,413.75 and half-back at 6,410.
Futures are currently trading at 6,432 at the time of this writing.
🧭 VPOC Update: No new VPOC's were added or taken out yesterday. We still have none above and five below the current price.
Current VPOCs:
- 6,367.50
- 6,264.50
- 6,146.00
- 6,091.00
- 6,050.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,440 - 6,450
Key Levels: 6,402 VAL and 6413.75 POC
downside target is: 6,.410 - 6,400
/NQ upside target is: 23,930 - 23,950
Key Level: 23,767 VAH
downside target is : 23,670 - 23,650
/RTY upside target is: 2,275 - 2,280
downside target is: 2,235 - 2,230
Economic Data : RED STAR EVENT
CPI @ 8:30 a.m. EST
More Color By : Rich Rickus
Have a great day!
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