Market Plan for January 11th, 2024

CPI coming, about to ruin everything

Good evening folks,

The market had another trend day as we rallied another 30 points. We had a choppy morning, ranging in between 4760 and 4775. Around 1:00, we started having some movement and upward volatility. This climaxed a few minutes later as we quickly rallied from 4775 to 4795.

In this High-Roller Room, we caught the vast majority of the upward move. We closed our runner from our entry yesterday around 4740, then re-entered at 4775 and exited around 4786-4790 for a gain of 15 points.

With CPI tomorrow, everyone is on the edge of their seats. Can we finally break all-time highs? Reversal? Nothing burger? Here are my thoughts for tomorrow: