Big Day on Tap With CPI, Retail Sales

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I could be 100% wrong, but while I thought we could see a hot number, I think the fix is in for today's CPI number. Below is what I posted in the MrTopStep chat at: 

• IMPRO: Dboy : (9:40:35 AM) : Powell may try and back up the idea of a rate cut still in front of tomorrows CPI release

• IMPRO: Dboy : (9:41:19 AM) : the fact that the rallied back up to 5250.50 after the drop down to 5216.75 after PPI say the powers / PPT could be at work

• IMPRO: Dboy : (9:41:33 AM) : different feel today

• IMPRO: Dboy : (10:26:40 AM) : powell painting the tape for tomorrow

In this case, it was all about the price action of the NQ. You could see it never wanted to go down in the early part of the day or any other part. We didn't see the big selling leading up to today's CPI release like we did over the last three releases.

Over the last two weeks, all that the back-and-filling in the ES and NQ has done is suck people in on the short side. Lastly, the 14th of the month is always part of the mid-month rebalance. 

Never sell a quiet market!! And that's all I have to say about that.