Traders, I gave 4136/42 as a bull bear line yesterday night with immediate levels of 4142 and 4132 & 4116. Short against 36 generated move to 20 and then from 20 it ramped up to 42. Which again gave short opportunity at about 7 am that lead move back to 16 after PPI release at 8:30 am generating almost 24 points.
In private telegram we used 4116 level to go long in RTH session generating 10+ points then we shorted 4132 level to +20 points. We went long against 32 to move to 50. We also stayed out most of the afternoon chop by defining no trade area or sit out times to avoid over trading.
Econ Tomorrow:
8:30 AM Initial Jobless Claims, Building permits, PPI and lot more
8:45 AM FOMC Member Mester speaks
10:00 AM ECB/BoE member speaks
1:30 PM FOMC Member Bullard speaks
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