What's going on, guys, welcome back to the channel. appreciate you tuning in. figured I'd hop on this morning, do a quick little run down before the CPI report or data. I Would just like to mention on CPI days like this, generally speaking, you're always pretty much, uh, neutral going into it.

Uh, what? I mean by that is I Generally, don't try to pick too much of a bias one way or the other. Um, we can look at forecasts and estimates and listen to lots of opinions going into such a report. Or whenever there's a big economic announcement or data coming out, we can look at all the opinions and all the forecasts to get an idea. Sure, but at the end of the day, those forecasts, whether correct or not correct, are not necessarily going to dictate how the candles move on a chart or the price point that the market is currently at a moving average that the market's at a statistical probability the market's at.

So for example, you know the market could have forecasted that inflation was going to be down and let's say it is. but since the market has already been bought up so high into, uh, overbought levels, then the report could still turn negative. So again, for that matter, generally always keeping more of a neutral bias. um, into such a report.

something that I would like to mention. many of you guys obviously from following my channel will clearly know what I'm talking about. so that's nice. I won't have to obviously explain too much, but the 50 SMA we talk about over under being bullish and bearish et cetera et cetera.

Again, 30 minute chart Open High Low Close Open High Low close means no pre-market no after hours you turn it off so your chart is going to have a lot of gaps in it. But anyways, what we're getting at is going into most CPI reports. you're going to find that many times the market is going to end up being around your 50 SMA on the 30 minute chart and again, it's just because of 50 SMA Over under dictate new Buy Signal to new sell signals Trend changes. so if the market can price itself around that 50 SMA Going into a CPI report a big data report.

Essentially it's the market is whether accidentally or uh, coincidentally, is setting itself up at the 50 SMA during a a data report to provide a big move or a breakout. Because that's what the 50 SMA does. It provides a breakout in Trend change. Um, and it's a you know.

So again it generally you're going to find yourself priced around the 50 SMA And the reason I personally think that happens is because if you get Priced Right Around the 50 SMA then that means in like for example, right now if you look at this, this is what it looks like. All right if you're priced right at the 50 SMA which is right here. so if we go over here it'd be right there if your price there. again, it's we have broken below.

So this is to start a new downtrend or if we break above, that can start a new uptrend. so it's perfect. The chart is perfectly positioned to, in short, screw a lot of people over. Um, because again, it's not so overbought that it just makes sense to sell the report.

It's not so oversold that it just makes sense just to buy it up right? So the market isn't at extremes where regardless of the report, we should push the market back to the mean. Right now, the market is literally sitting like dead, not in the middle of the chart, right at the 50 which again dictates over and under. Uh, over being up, now, under being down, or over being up. And so, um, it makes it a very tug of war game at that price point.

Which what better thing to do prior to a report, right? So I Noticed that happens quite often, so that's why a lot of times I'm just generally neutral going into the report knowing that it's going to be around that 50. SMA So a lot of times they can pull some quick trickery doing the over unders and then eventually they'll kind of pick Direction So that's just kind of the way. I look at CPI so you know for what it's worth, that price point is 4 46.34 That is the the golden over under today. That's that's the exact price point you're going to want to pay attention to before the report.

I'll try and post this video and at least have it up so you guys can watch before the report. We'll see about that, all right. So aside from the report, now we're going to look into uh, trading View All right. So there's a couple things we're watching here and pretty much that is the previous sell signal right here.

provided this move down, blah blah blah blah that gave us our long targets yesterday here at the upper distribution. So uh, that means like you know we've already done our previous cell signal I'll put on our current Buy Signal on that one we're using like this. uh, one second. So I'm just trying to help provide you like a range.

uh, where the market you can kind of expect it to trade in for now. Okay, cool. I'm gonna do lower back all right. So over the past couple days, uh, we kind of expected these to be the highs right around here.

and then yesterday we kind of figured somewhere around that green line was going to be the low Point We've done all that and now the Market's pretty much sitting. you know, at about 446.50 So it's somewhere like, right there, right in the middle. So right now, theoretically, from a volume weighted average price perspective, these would be the ranges. and I Don't necessarily think that's going to be entirely true because after the day I think we're going to get some sort of new signal.

So again, looking at these volume weight average prices I Really wouldn't expect the markets be much higher than 449 for right now and or this 4 45 91 theoretically. But what I also want to do is look at statistics here because that can probably give us a little more Edge So if we take a look at the statistics, the statistics has 451.37 and 441 28.. So this means that the high probability price points for the chart right now are theoretically here and here. So more likely than not, these are going to be the price points the Market's traveling to sooner than later.

So whether or not CPI is going to be the Catalyst it takes us from 446 down to 441 or up to the 451 is I. Guess what we're debating right now? Um, so again, what we're going to want to do regarding the view apps is pretty much wait for CPI to happen. The announcements happen blah blah blah and then we get a new buy or a new sell signal that we can work off of. Um, kind of kind of like we had here, right? So this was a sell signal you can see.

essentially. once we get it, we're treating bearish. And you know, as long as the market is below that view app, you won't see a shift in momentum up. Same thing.

So if today leads to a big sell-off then we'll have a new sell signal and we'll take this and we'll start. You know, essentially traveling down the market with a new sell signal and so on so forth. All right. So the recommendation is pretty much just be cautious, wait for the report and look for the market to gain acceptance above or below the 50 SMA which is priced at 446.38 Alright guys, take care.