Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion

Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion

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Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion
Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion
CPI Day Tomorrow, Can Bulls Keep The Rally Going? April 12th Plan

CPI Day Tomorrow, Can Bulls Keep The Rally Going? April 12th Plan

Apr 11, 2023
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Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion
Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion
CPI Day Tomorrow, Can Bulls Keep The Rally Going? April 12th Plan
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As readers know, I was long heading into today’s session from 4105 yesterday after yesterdays dip was yet again bought, writing yesterday: “As long as this structure [bull flag'] is in tact, my lean continues to be we see 4148, 4165…”. We managed to get to 4148 before late day dip. For entirety of March, I have been bullish and the technical reason is simple as readers know: We remain in a picture perfect, technical rising channel since the March low, and this shows the power of simple technical structures to keep traders long and on the right side.

All April however, ES has been taking a breather, going sideways, and tomorrow, we have a possible catalyst to end it with CPI and FOMC minutes. CPI days along with FOMC days are notoriously the most volatile, wide-ranged, complex days of the year for ES, and 100+ point moves (very often, in both directions within the same session) is the norm. These are days for flexible, reactive, level-to-level day traders only.

In todays newsletter, I’m going to break-down what prior CPI days looked like and discuss my approach to trading them, talk the big picture structure here, then provide the actionable trade plan for tomorrow.

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