We began the week still ranging between 33500 and 32600 expecting either a push to 34k if we got a break above 33500 or a sell 32600. Sellers jumped in on high inflation and priced in more rate hikes to come giving us that 1200 pip sell off below to end the week at 31400. This week we have a lot of economic news that’ll impact the market including potential for increased rate hikes which could drive price to lower lows. Price is beginning to create an order block at new lows between 30400 and 30900. Based on what is announced at FOMC meeting we can expect a continued sell off to new lows of 30k if we break below 30400 or a pull back to either 30900 or 31600 before continued sells. Our higher timeframe bias is still BEARISH.