Hello, my friend.
It looks like today’s impulse stayed with us throughout the session.
Demand remained strong and, for the most part, price never gave us the deeper retest we were looking for - at least on Nasdaq.
That price action helped confirm the importance of the impulse we identified earlier today. ⚡
The Impulse
NQ level 30,623
ES level 7,743
US Core PCE Price Index YoY: 3.0% - Forecast: 3.3% · Previous: 3.3%
The report came in softer than expected, signaling that underlying inflation was cooler than markets had anticipated.
Softer inflation can reduce pressure on the Fed to keep rates restrictive. That helped push yields lower and supported the bullish reaction across equities.
💡 Nasdaq showed the stronger reaction compared with the S&P 500.
Keep it in mind as we come into tomorrow’s session - and make sure to mark down these levels.
All the best, everyone - enjoy the afternoon.
Until next time,
Steve B
Founder, The Daily Impulse
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