Yesterday saw a surge in both the NQ and ES, which was followed by additional new all-time highs in both markets after the release of the latest CPI data. The difference being what followed today was a total rejection of the highs.
What a difference a day makes! Yesterday saw a surge in both the NQ and ES, which was followed by additional new all-time highs in both markets after the release of the latest CPI data. The difference being what followed today was a total rejection of the highs. I update the labeling in both markets - and added the Fibonacci retracement levels for the Minor 4th waves. Hopefully, MInor wave 4 will continue, I am still waiting for confirmation via a 5-wave decline on the hourly charts.
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