While we did see some gyrations in the major indices following the CPI report, the market ended up with fractional changes by the close. Thus far we only can see three larger waves down on both the SPX/QQQ from their respective highs on February 2nd which is corrective. Therefore, we should be favoring longs against the February 10th lows for now. While we haven't seen much progress of late (a great deal of chop), the bulls remain in control. Continue to execute your plan and adjust accordingly along the way. We have had both some trade shorts (reversion to mean ideas) and longs recently that have produced decent short term gains (remember you need a valid trigger to act and then manage the trade with proper stops once executed). Also be mindful of companies that are reporting earnings to avoid being trapped.
Please take a moment to look at the trade ideas.