ES support @ 4018 now becomes critical trigger level
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This big rotation to the upside, after the CPI number, presents a new $4018 support level on the ES for traders.
The Fed rate decision tomorrow may send markets briefly below this level, but watch for a reflation trade to setup after the Fed comments.
If my research is correct, a melt-up trend has already been established. I expect the US Dollar to melt back above 105 while Gold and Silver continue to melt upward as well.
The US markets may continue this upward trend into Q1:2023.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.