Hi JEM, Sold any homes recently?
All eyes on CPI data tomorrow
- Thread starter Innervoice
- Start date
FOMC still has not stopped QE. They created the inflation, guess they don't give a crap.
As with any data point the trend is what matters most. Here is TD Setup (blue numbers under red line which is Fed Assets, OHLC bars is $SPX) which is a comparison of current bar to 4 bars prior, there has now been 5 weeks of a decreasing values. This trend will almost certainly continue for some time.
Result of course interest rates going higher, equities going lower:
Result of course interest rates going higher, equities going lower:
You guys nailed it
The market is signaling a 0.75% rate hike next week. What's needed is much more than that. But it's an election year.
Wow comagnum, I am not a chart guy at all, but it is weird, I was just today thinking like this felt like a triangle deal where it keeps trying to push up but is getting weaker and weaker. I just had that kind of feeling today. That chart you posted sums up my feelings, although my feelings were much more touchy-feely LOL. I think I need to start learning some of this charting stuff! Did you (or anyone else, chime in!) make any money when it broke down below the bottom of the triangle? I would guess that would be exactly where you short or buy SQQQ or UVXY or whatever other crazy instruments Ken loves to play with.
I predict tomorrow morning might have a slight up tick at open, but soon thereafter down big again. I know nothing, but that is all I can even guess at at this point.
I'm not going to say that I called it, but I called it.
Powell speaks next week. While the PCE wasn't bad and no wage spiral was showing up last week, there's was a whole lotta stupid shit in this report.
Here's what the people who "are going on vacation to wherever they want no matter what the price" is causing:
5's are above the 10's and 30's. 2's should be joining the 5's in doing the same sometime this summer. If you played the "buy the recession, sell the inversion," you were out in April.
Looks like the permabulls thought inflation had peaked yet this report was just like the last few. The Hopium crowd got their hopes dashed. That's the only mentality that explains this outsized drop. I mean who really thought prices went down? You still can't buy any new cars where I live.