Market seemed to like CPI data this morning. We have a gap up and a 5-day POC at 514.92, that coincides with the pre-market high as well. The area 513.60-515.88 seems kind of wide but that is the bull zone if price can maintain it, my screenshot’s already a little old. 512-513.60 should provide some support, but be aware of these zones. Next major POC area below is 511 then 509.76. Above, naturally we have the two recent ATHs 515.88 and 518.22. But price needs to hold above yesterday’s low and not make a lower one to maintain momentum.

1) Price finds support at either 512.91 or 512, look for price above 513.60 then target 514.92, monitor for continuation higher
2) Price settles between 512 and 513.60, this is bullish but potentially choppy. Look for break of either side
3) Below 512 target 511 easy then 509.59. Lots of support in this area, 506 comes quick below 508.50 prior day low

William Wallace