Futures are flat ahead of tomorrow’s CPI print.

Yesterday’s price action put ES in the most ambiguous position possible: poised for a reversal or a breakout.

continued for members…

SPX has now spent 14 sessions in a row at its IH&S target. VIX’s 10 is still above its 20 and its declines haven’t been too bullish for stocks – at least yet. DXY still has more upside potential, suggesting that tomorrow’s CPI could come in hotter than expected – at least relative to the euro. GLTA