After 4 up days in a row, the ES bulls continued overnight on strong earnings from Cisco and Waste Management. The ES had a big and bearish reaction to yesterday’s strong CPI numbers before spending the day recovering and pushing to new highs. On deck this morning is PPI @ 8:30am EST. Another strong number could bring out the bears again. Also @ 8:30am EST are Empire State, Philly Fed, and Claims. Earnings include CBS and SHAK. Volatility remains high. Size bias is interesting a divergent short into the 8:30am EST numbers.