Pre-Open Commentary | Aug 14, 24 (CPI)

Condensed Insight Before the Bell.

Key takeways:

CPI day. We will have macro model update and it can change the sentiment slightly (fast part).

Also we are entering OPEX week which will make the market more attracted to specific price levels. More on that in intraday section.

Some important warning signs for intraday bulls today. Sentiment and dealers both short! even though we had nice rally yesterday. Was it nice really? Even orderflow/profile not entirely confirms it. Why? Well, shouldnt we get at least one single print yesterday? So, it all kind of stinks from intraday perspective for today and I would choose my trades carefuly, meaning let the locations be solid.

So what’s the plan: