The market had a monster day on Thursday after the Consumer Price Index (CPI) report showed less than expected. Let’s see if the rally continues into Friday.
Coming into the week, one of my main targets to the upside was the structure above near point of control (POC) at $3,866. After breaking $3,866, the S&P 500 (/ES) continued to rally and closed around $3,965.
If /ES continues higher and gets through $4,000, my larger upside target is the 200-day simple moving average (SMA) at $4,084.
Check out the video above to get the breakdown of my critical level on /ES and /NQ.
Stay Focused!