CPI came in soft this morning — a miss across the board. In theory, that gives the Fed more room (or more of an excuse) to cut rates, which is what Trump’s been pushing for. Overall, that’s a positive sign for the market.
But despite that, there’s still a lot of downside pressure right now, and I haven’t seen a clean long setup yet.
What I’m Watching: I’m keeping a close eye on the 18,350 to 18,000 area for a possible entry. That zone has a ton of confluence:
50–61.8% Fib retracement
Weekly VWAP
White EMA on the 30-min
Weekly pivot
If price pulls into that zone and starts to show signs of support, I’ll look for a way in. Until then, I’m staying patient.
Will keep you all posted if I take anything.