Pristine Market Analysis & Watchlist 9/11

CPI Preparation!

Team,

Hope everyone had a great Monday! Only one more full trading session until CPI! Let’s take at how markets are shaping up into the event, and review the range of probable outcomes.

-Andrew

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Overnight/Economic Data

Consumer inflation expectations data came out at 3.6% vs the prior 3.5%

FX Market

Finally some relief via a weakening of the DXY US dollar! Bearish engulfed three candles in one fell swoop.

Bonds

Long-term US treasuries gave back all of their gains from Friday and are consolidating just above their 2022 lows ahead of CPI 👀

Equity Dashboard

Breadth declined throughout today’s session and finished the session with 61.0% advancers. Noteworthy outperformance from the ARKK innovation ETF in the last ~2 weeks.

NVDA continued selling, but TSLA took the baton, finishing +10.09%.

Equity Index MTD September Performance

All indices are in negative territory for September.

Index Price Cycle Monitor

ES S&P 500 - Above key moving averages and testing monthly value area high

NQ Nasdaq - Above key moving averages and above monthly value area

RTY Russell 2000 - Trading in between the 200-day SMA and monthly point of control

YM Dow Jones - Above key moving averages and inside monthly value area

In the following sections of tonight’s update, I’ll cover my research in preparation for tomorrow’s trading session

✅ Trend Model Update - Our proprietary indicator that informs us on how aggressive/defensive to position in the market

✅Market Strategy - My trading plan

✅ Today’s Trade Blotter and Position Update

✅Daily Watchlist - We scan thousands of stocks and hand-pick the best reward/risk opportunities