Battling Unchanged After CPI Release

ES-- In the aftermath of in line but improved CPI data, the bulls and bears are battling around unchanged after initial, knee-jerk algo-inspired spikes, first to the upside to 4019.75, which smacked into the Upper BBnd Band, and then to the downside in a spike to 3954, which was absorbed by important near term support from 3973 down to 3945. 

MJP Reaction: after the near term overbought condition is worked off in the upcoming hour(s), ES should make a run at the 4019.75 high to test the down-sloping 200 DMA, now at 4028... Last is 3990...