The S&P 500 E-mini rose by about 0.2% in the European trading session and trades around 4134 with a slight bearish bias for the short-term to an intraday perspective from the daily interval. The market found some buying around the month’s lower value extreme and might find selling above the hourly swing highs with absorption to target the double bottom in the New York trading session.

Traders wait for today’s inflation and CPI data to conclude further scenarios. Higher inflation might hint at more interest rate hikes which should be a pressure factor for the equities landscape while a lower print could be uplifting for the stock index.

Several areas of the short-term perspective are of interest while it depends on the mentioned inflation data and auction to react from it. 

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