The $QQQ and $NDX situation really comes down to one thing—you can't stay in this trade without taking a stance on tomorrow's CPI print.
We're closing the day right around the $628 level. It's the inflection point.
Here's the setup: if we close below, expect a gap up at the open. Close above it, and we're looking at a gap down scenario. The data drop tomorrow basically tells us which way we're breaking. Everything rides on those numbers.
So what's your read—do we punch through or pull back?
The $QQQ and $NDX situation really comes down to one thing—you can't stay in this trade without taking a stance on tomorrow's CPI print.
We're closing the day right around the $628 level. It's the inflection point.
Here's the setup: if we close below, expect a gap up at the open. Close above it, and we're looking at a gap down scenario. The data drop tomorrow basically tells us which way we're breaking. Everything rides on those numbers.
So what's your read—do we punch through or pull back?