While we saw a small bounce today, bulls have work to do and CPI tomorrow decides the rest. Can this bounce stick? In today’s newsletter I’ll talk this, I’ll discuss the cause of yesterdays historic melt down (it was caused by my third setup type: The Breakdown Short). Finally, I’ll discuss the actionable trade plan for tomorrow.

These are the periods that I LOVE being a systematic trader. Not because the money is easy right now but because of the exact opposite. There is a lot of noise in the market and media. Every day seems to be “the most important day ever.” Traders who are focusing on the stories right now are getting overwhelmed, and I don’t blame them. We focus on the math with the faith that it will play out over time. That math doesn’t know about politics (thankfully), only about market edges.

Supports are: 5798 (major), 5790, 5784 (major), 5777, 5767, 5763, 5757 (major), 5750, 5740, 5730 (major), 5724, 5720 (major), 5714, 5707, 5698 (major), 5689, 5676 (major), 5668 (major), 5660, 5642-46 (major), 5631, 5627 (major), 5616, 5608, 5598-5602 (major), 5592, 5584, 5580 (major), 5572, 5567 (major), 5563, 5558, 5548 (major), 5533, 5529, 5514-18 (major).