CPI, PPI pulling?

Initially, market participants reacted favorably to the April Consumer Price Index (CPI), but a closer look fostered uncertainty about the Fed's policy path. Total CPI was up 4.9% year-over-year in April, down from 5.0% in March, which marks the sub-5.0% reading in two-years. Core-CPI, which excludes food and energy, was up 5.5% year-over-year in April, down from 5.6% in March. Presumably, the April CPI report will sway the Fed to entertain holding the target range for the fed funds rate steady at 5.00-5.25% at its June meeting, but importantly, a 5-handle on core-CPI isn't going to sway the Fed to think it needs to cut rates anytime soon. That understanding, along with ongoing concerns about the debt ceiling and a possible hard landing for the economy, kept the market in check through most of the session.

Chart: SPY daily and 15 mins with post market
I short some SPY as I saw it could break prior 414.9ish resistance and close all day trading positions until it fill the penning gap.

Chart: QQQ daily

Chart: QQQ daily and 15 mins with pre market
From the chart, Qs looks way much positive compare with SPY, but still needs to deal with 326, 328, 331ish resistance. And from the post-market price action, if PPI data can help QQQ stands above 328ish, then I will try to long some Qs, so far I could not see some selling pressure coming out, so will see how it goes after 8:30 EST today.