CPI Chopped Us to Death. What Happens Now?
Plus Wednesday Watchlist
TLDR: Wednesday Watchlist at the bottom
Tuesday Watchlist Results:
Tuesday Watchlist Results:
$BA 108%
$GOOGL 35%
$META 7% L
$NFLX 35%
$NVDA 148%
$QQQ 26%
$SPY L
$VLO L
5/8
Avg Win 45%
Really tough day with lots of chop, traps, and premium bleed. If you got out positive you traded really well!
Dino Daytrades @dinodaytrades
Today was a tough trading day. Lots of chop. Lots of grinding movement. Plus, we saw big premium drops throughout the day. Very tough trading conditions. While the overall watchlist faired well, if you caught 1 or 2 trades that didn’t work out, you were most likely red on the day.
The market shrugged off the higher than expected CPI print and popped higher thru the open and testing the 4180 resistance area. This area failed and the price came right back down to test a major support area in 4100. After that, it was a grindy move up the rest of the day with a small pullback at the close.
This type of ping pong, grinding action after a news event is how options’ premiums