Market Plan for December 13th, 2023
CPI down, FOMC to go. Is this the bull killer?
Good evening folks,
Hope you all had a great trading session. The reaction to CPI was underwhelming, you could barely tell it apart from regular price action on a chart. Trading today was pretty straightforward - buy the excess low caused by CPI. We dropped to a low of 4609 before slowly grinding higher all day, making new highs at 4645+. We’re still climbing higher after the market close.
All eyes are on FOMC tomorrow, the event of the week. The reaction to FOMC will determine the trend direction over the next few weeks, at least. How will we trade this? Here’s what my plan: