Outlook 12/18: Stock futures jump after lighter-than-expected CPI. November consumer price index report showed that the headline annual inflation rate was 2.7%. The 12-month rate for core CPI, which excludes food and energy, was 2.6%. Economists had expected the rate for the headline measure and core CPI to come in at 3.1% and 3%, respectively. The report, which didn’t include month-over-month percent changes, was pushed back from its original release date of Dec. 10. CBOE 0DTEs flipping positive to negative gamma created relatively unstable intraday conditions featuring several “shake-out” moves. A break below SPX 6,800 flipped to negative gamma and likely accelerate a move toward 6,700-6,600 into Friday’s expiration. However, after CPI data, market tries to recover postive gamma ahead Friday OPEX.
ESH26 (Mar2026): YVAH 6840 YPOC 6792 YVAL 6775 GAP 6794
/ES Plan: Yesterday market closed bearish (PBT 6700), but overnight, after CPI, looks bullish, still moving within previous value, so these're the opening and initial balance options for current session:
