I have been first all along to predict the tick up in inflation if it shows I bet it's this report because if you squint we are already ticking up. Just a bit will spook the market./
Wage inflation is real. Union strength is real. 10% pay raises is common now, UPS, AA, eventually that shows up -
hahahahaha
The only uptick will be in energy. And Powell doesn't care about that because there is nothing he can do. He knows that oil could be $65 in a month, or $125. That doesn't matter in his bigger picture.
He's concerned about food and housing. Food has already started down. Housing will show moderation as July/August 2022 fall off the moving average. I wrote about this a month ago.
Wage inflation is priced in. It's a known known.
Student loan obligations, for now at least, resume in October. That'll provide some downward pressure on an already anemic retail sector. He knows that too.
The only thing your timeline here has in it's favor, is that historically Sept is a pretty bad month... and November is an up month over 74% of the time using data from the last 30 years.
I pointed out the importance of 9/13 way back in the first half of August. Try not to hijack my pivot points weeks later. Your correction is not going to happen, unless you do the typical Stoney and come out screaming the day the markets have a 2% pullback. Brace for higher going into 9/20. Using today's close.
Besides... I already gave you the real money call. On 8/24.
The drop in tech for the last two weeks, and the rotation into energy.
In a sector that trades 100's of billions daily, where fortunes are made and lost.
1000% perfect
As these things go, and knowing that tons of retail traders are trying to average down right now in their tech plays, catching the proverbial sword... while more astute traders are buying value... and also knowing that the markets love to take money from everyone, even the value players... I can see only one sector right now to rotate into for the next month or so, perhaps longer:
--->ENERGY
I think energy has moved up every day since that post.
So quit making predictions. Leave the bigger picture,
and the intraday pictures... to your boss. I was blessed with insights you don't have.
--->You're welcome.
