A quick (10-minute) update on the volatility in the pre-market trading session this morning in the wake of the hotter than expected CPI data released at 8:30am ET & how that might affect the near-term outlook for the stock market (or not) & one’s trading plan.

Note: When I started coverage of the SPY 60-minute chart, I correctly stated that the SPY has so far hit a low of about 262.60 on the plunge following the CPI data release although I erroneously drew an arrow around the 260.60ish level. SPY dropped (so far) to within 1 point or less that 4/10ths of 1% of that 261.60 support line on my 60-minute chart… a very objective buying or add-on opportunity to an existing long position IMO.