Pretty standard grind higher of a day with really no reason to sell off - I went over that in the DeltaOne call this and we hit QQQ 0.00%↑ target and ES 0.00%↑ targets as of the last hour.
Moves, like this, without a catalyst-driven event typically grind higher.
You got the ‘ramp’ end of the day which is standard as it is for reversals on moves higher - early morning drives then closing moves.
There are a few equity shorts I’m waiting on and I have not done much this week, even despite some of these opening-drive moves.
Oil gave it up - we needed a draw on inventories not what we got which was a build so a 6 handle is on the way. I explain more of this in the premium video inside. Wouldn’t be shocked to wake up tomorrow AM and see us below $70s.
Tomorrow we have CPI at 8:30 am - I am expecting that to be bearish for the markets and then Friday we have data again.
So we have a catalyst to drive price/shift sentiment. I talk about that in my investment process post here.
More in the premium video below.
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