The triple 3's on this IWM chart is a peek into the hell that an unexpected reaction to tomorrow's CPI print will bring down on the market, a third wave down at multiple degrees of trend. The "unexpected" part is because of the market rally seems unfazed by any economic or geopolitical news, so the expectation is that tomorrow is a strong up day no matter what the CPI numbers. This price pattern begs to differ. IWM 120 Minute No matter what the outcome, the net major move should last weeks, if not months with plenty of time to get on board. VIX Daily A gap-up Open would provide a trading opportunity on the first dip of the day. Anything less is no trade at all. Standing-by. TSLA Hourly This is the TSLA hourly chart with shorter-term Buy Signals. We don't trade this model in the Premium Service, but it does tend to lead the intermediate term trend. As long as price is above the ATR-trend line, all systems go. On the right edge is the Fib extension tool offering some short-term targets for Wave 3 which we are assuming is in progress. Breaking above $200 would help our conviction, $207.80 after that and $220 next. Should price drop below the trend line (currently around $185) expect another test of Wave 2 low @ $175. Bottom Line Everything is on hold until CPI, Fed and PPI are fully digested this week. Cue-up: CPI - 8:30 am EDT Wednesday.
