MNQ CPI News Drop Rallies the market
Looks like price has seen an impressive Bullish reaction today from the 0830 news drop that took out the past days highs that was housing a ton of BSL. Conveniently, price seems to be drawing into the D SIBI and is in close proximity to the High from Wed 08 Jan 2025. I can see price trading into the SIBI and finding some sort of rejection.
Now to go forward does this make my Bias Bullish leaving the focus on the SSL at 20640.00? No not just yet because I would like to see how price trades and respects the three Premium Arrays being the D -OB, D Volume Imbalance, and the D SIBI. If price is Bullish then it should see little resistance from the CE level and the MT of the D -OB but if price is Bearish then we will see it respect a Premium Array and then continue lower.
So far there is a nice sweep on SSL and the CPI rally could be the Displacement and MSS that price needed to make to turn things around to become Bullish and start to hunt the Highs for BSL from the Mon and Tue highs of last week.
Now to go forward does this make my Bias Bullish leaving the focus on the SSL at 20640.00? No not just yet because I would like to see how price trades and respects the three Premium Arrays being the D -OB, D Volume Imbalance, and the D SIBI. If price is Bullish then it should see little resistance from the CE level and the MT of the D -OB but if price is Bearish then we will see it respect a Premium Array and then continue lower.
So far there is a nice sweep on SSL and the CPI rally could be the Displacement and MSS that price needed to make to turn things around to become Bullish and start to hunt the Highs for BSL from the Mon and Tue highs of last week.
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