Summer holiday at the moment, so just following the moves in between. Wouldn't have carried anything into CPI anyway.
It will be interesting to see the volatility next week, as the rebalancing details will be released this Friday so funds have time to digest the changes and reallocate before the 24th. I.E. I guess the QQQ will be going down a bit as panicky investors say GTFO.
don't know how it can impact the level though, maybe it will backdate all the data series like stock split? not sure the mega cap will be sold off significantly, it is not a rotation.