Results of Tuesday’s Best S&P Futures Turning Points: Neither level triggered.
Today’s Best S&P Futures Turning Points (watch for slippage potential @ 8:30 when CPI releases):
Buy 4467.00 stop 4463.00. Short 4543.75 stop 4548.25.
The World Index: (+100/-100) drops from -21 to -43 with all major world markets Bearish. Europe will still be open when CPI releases so this outlook may change.
Catalysts: CPI (core will have the greater impact) @ 8:30. Crude Oil Inventories @ 10:30. 30-Year Bond Auction @ 13:01. Federal Budget Balance @ 14:00.
Quick Tip: Ask Yourself
Today is a big day for the stock market. The CPI (inflation) results come out at 8:30 ET. We’ve seen relatively narrow range days lately. It’s almost a certainty price will break out into a trend. Up or down.
You should be asking yourself how you’re going to respond. Being proactive and planning will get you the calm confidence to execute with no doubt. What will you do if it soars? How about if it crashes? What if it whipsaws?
Are you hearing crickets up there? Can’t decide? Don’t know if your decision will be the right one?
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