Hello Everyone,
Quick Note: After trading in a range the past several days, today energy was released with a nasty move DOWN once support was breached. As I stated a move below 4090-4100 left the index vulnerable and that was certainly the case along with AAPL breaking key pivot support at 147.
Tomorrow, I'm looking for a highly volatile day with some big swings in both directions in concert with the CPI release. Today's action is representative of a smaller degree 3rd wave so once completed we should then see a bounce 4th wave then down in 5th wave and then a bigger rally wave 2 of 3 is something I'm monitoring tomorrow. If true, target area to complete around 3950-3980 (prior high).
Best to trade what's in front of you but be prepared for high volatility.
QQQ has some support here (298-300) and then 289-282 zone below.
Please take a moment to look at the trade ideas.
