Inflation data was as expected but……

Innervoice

Innervoice

The core cpi was as expected 5.6.
The cpi which included energy was .1 under expectations of .3 which sounds good. Its not. This includes energy PRIOR to opec reducing supply. The fed is going to look at this report as “ inflation being stubborn”.
 
Innervoice said:
The core cpi was as expected 5.6.
The cpi which included energy was .1 under expectations of .3 which sounds good. Its not. This includes energy PRIOR to opec reducing supply. The fed is going to look at this report as “ inflation being stubborn”.
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Not just core, both the m/m and y/y CPI are also less than expected and previously. It's going to be an up day just based on this. Now everything just comes down what the Fed minutes says. If it doesn't say anything unexpectedly bad, then the day will end up higher.
 
TheDawn said:
Not just core, both the m/m and y/y CPI are also less than expected and previously. It's going to be an up day just based on this. Now everything just comes down what the Fed minutes says. If it doesn't say anything unexpectedly bad, then the day will end up higher.
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5 minutes after CPI was released, the day went down, bounced a bit, and finished WAY down from that 8:35 high. So institutions did not like what was in it, plus the minutes. 60 ES points worth of "me no likey" from that high. Hmmmm!
 
Overnight said:
5 minutes after CPI was released, the day went down, bounced a bit, and finished WAY down from that 8:35 high. So institutions did not like what was in it, plus the minutes. 60 ES points worth of "me no likey" from that high. Hmmmm!
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Today is weird. Even in the minutes, the hawks were discussing the possibility of holding the rate steady due to the recent events in the banking sector. So that should be more reason for the day to end higher not lower. Maybe the fact that even the Feds was willing to stop the rate raise to avoid the possible bank runs just scared the people even more. Roosevelt was so right. We have nothing to fear but fear itself. But I think it's just the shorts trying to push the market down so they can make money, trying desperately to be the next Michael Burry before they get gamma-squeezed. LOL The internet even including ET here is littered with articles and posts instigating bank runs with this bank, that bank because of this exposure, that risk, it's ridiculous.
 
TheDawn said:
Today is weird. Even in the minutes, the hawks were discussing the possibility of holding the rate steady due to the recent events in the banking sector. So that should be more reason for the day to end higher not lower. Maybe the fact that even the Feds was willing to stop the rate raise to avoid the possible bank runs just scared the people even more. Roosevelt was so right. We have nothing to fear but fear itself. But I think it's just the shorts trying to push the market down so they can make money, trying desperately to be the next Michael Burry before they get gamma-squeezed. LOL The internet even including ET here is littered with articles and posts instigating bank runs with this bank, that bank because of this exposure, that risk, it's ridiculous.
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When the Fed says "we are pausing", the bull market will begin. Until then, ranging.
 
The market seems to be shifting its focus from inflation to earnings which seem to be slowing. I will also throw in credit tightening. The dynamic may be changing.
 
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