Because the V man is a little nervous right now. We are still getting the V's but they just aren't holding overall and not seeing a bigger rally. There is concern that some of the gaps in the QQQ are at risk or being filled short term. Even though it's a struggle for this to stay down, it's still somehow staying at a lower price if that makes sense. V man is a little disappointed the past few days didn't create a bigger V or more follow through.
Not sure it works that way. I believe CPI is most important. Last time PPI came first was in August: PPI-day: + 1,62 %; CPI-day: + 0,30 % Before that was May: PPI-day: + 0,44 %; CPI-day: + 1,23 % Today was basically flat on SPX and red on NDX. I'm inclined to think we may see a rally (possibly short lived, but that's another matter) tomorrow if the number comes in as forecast or slightly better.
One of the prop firms I've worked with is TradeDay. They have a rule related to what they call "Tier 1" news releases such as CPI, PPI, NFP, etc. You must be out of the market with no resting orders from 2 minutes before the news until two minutes after the news. If you break this rule, you lose your account, whatever the stage - evaluation, sim funded, or live funded.
Then: Now: I do not feel that this is intended a as call. All I am showing are the levels I feel are "when in doubt"* levels if a pullback is afoot. (I at first posted this to the wrong ES Journal - newbie mistake). *"When in doubt, go long." @theapprentice