CPI Bounce — But The Line Is Drawn
by Tony Rago
CPI sparked the bounce we were looking for, lifting ES back into 6,850 and NQ toward 24,812 after probing the overnight lows. That’s a meaningful response — but let’s be clear, the bulls are still wounded. Now it’s all about holding yesterday’s closing levels. Those closes become your line in the sand. Stay above them, and the bounce has structure. Lose them, and we’re likely revisiting the overnight lows in short order. In this environment, levels matter more than narratives — especially after a data-driven move like CPI where emotion can fade quickly.
The VIX remains elevated, and that’s the market quietly reminding us volatility isn’t going anywhere. Wide ranges, fast rotations, and sharp reversals are still in play. This isn’t a market to chase — it’s a market to execute with discipline. Stick with the prevailing trend, avoid the wide chop zones where both sides get trapped, and be selective with entries. Patience pays when volatility expands. Let’s stay sharp and finish the week strong. 💪
👉 Full breakdown is inside today’s Pre-Market Playbook. Check it out here and trade it smart.
