Markets were strong Tuesday due to some bullish PPI data. Stocks surged as data showed a taming in inflation and increased the odds of no further rate hikes for the remainder of the year. The Dow, S&P, and NASDAQ all closed with sizable gains.

US stock futures are suggested another large gap to the upside this morning. CPI results came in slightly positive; CPI +0.4% m/m vs +0.4% Bloomberg consensus, Core CPI m/m +0.2% vs +0.2% Bloomberg consensus. This data strengthens the probability that the Fed will decide not it increase rates for the remainder of the year.

The yield on the 10-year Treasury has fallen to 4.88%. Crude Oil is continues to slowly creep lower, trading at 72.97 per barrel. Gold is now trading at 637.00 an ounce.

Canadian Pacific Railway (CP) is trading in a sideways pattern with support at 46 and resistance at 49. The stock has been in this consolidation range for about 1 month. A breakout in either direction will indicate the continued direction of the stock.

Juniper Networks, Inc. (JNPR) put in a strong session. The stock gapped up with the majority of the market at the opening bell, then proceeded to rally further. The stock settled a bit and began trading in an uptrend into closing.

Andy Swan is co-founder and head trader for DaytradeTeam.com.  To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.