Futures surged on yesterday's fake CPI and on constant grifting and speculation by the administration that the Fed should cut 50 bps in September. Just remember what happened with the jobs data recently. While the cost of basic needs from transportation to rent to food has risen an average of 15% over the past 12 months, we somehow get this CPI print despite the tariffs. Meanwhile, the administration is actively seeking to replace the heads of the institutions that collect, analyze, and release this economic data in order to suppress and alter reality. These were not in my playbook at all. Now we have these fraudulent practices to consider on top of everything else we deal with.
So far, the market is going with what's presented to it. But remember how the market reacted to the recent jobs data correction. NQ1!24051.5 dropped 1k points in 36 hours. So either the administration completely seizes and changes the information flow, or reality hits back harder soon.

ES1!6495.25 support levels: 6475-6478, 6460-6462, 6445-6450,
ES resistance levels: 6498-6451

I think the speculation that the Fed will cut 50 bps in September is partially priced in, but it's not clear how the market will react after the actual cut. If past rate cuts are any indication, and if the economy is truly weak, these cuts will likely mark the beginning of a LT market weakness. In that case, the market may start to front-run this cycle.