Flow State #44

Welcome back everyone!

Plenty to cover this week, let’s dive into it!

Nvidia experienced a significant drop, plummeting to new lows from my initial 500 level, and it currently stands at 438, marking a decline of 62 handles.

In contrast, oil surged remarkably, reaching 91, an ascent of over 1500 pips from its swing long level around 77.

Gold underwent fluctuations, initially dropping close to its trend pivot, but then rebounded by 40 handles, positioning itself around the 1950s mark.

Both the Emini and Nasdaq experienced sales pressure early in the week. However, they soon bounced back to their peak levels. This upward trend was anticipated until Friday's session, which descended below the short level, triggering a significant sell-off. This resulted in both of them surpassing their short targets. They didn't quite touch the lows of the previous week, but such a movement is plausible in the coming week, especially with pivotal events on the horizon.

To provide context for the upcoming developments, I'd like to delve into the recent Consumer Price Index (CPI) and Producer Price Index (PPI) releases.