Hypothetical Trading System Signals on July 15, 2022

The main move was the gap up. Most of the day was very narrow range chop as the summer of chop and complacency continues with the VIX at 24..

It is surprising, given the nature of the markets and the news flow right now that the price action has turned into stealth bull market mode as we roll into earnings season and a hot CPI at 9.1% on Wednesday. Commodity prices have dropped quite a bit since June so I'm sure short term inflation will pull back to lower numbers before moving higher again.