It appears that traders took the bait this morning,
and jumped on the bandwagon all together now
after the March CPI, came in at .1 % , a 5% annual increase, year over year.
That still is well above the 2 % rate of inflation,
that the Fed is trying to "get back" to by raising rates to catch up with 5 % "real " US inflation.
But you see, the market knows all of that. Everybody knows.
So after the" initial pop" of "crowd buying and short covering," that move was over, just like that.
This mornings S+P 500 High of 4134.37, an important one,
is now left "hanging in the sky," a chinese candlestick terminology, for an "exhaustive bearish candle"
And until buyers are able to push past that "hang point",
....then buyers shall remain on the defensive.
S+P 500 NOON OPEN 4116.13
THE_UNWIND
WOODS OF CONNECICUT
and jumped on the bandwagon all together now
after the March CPI, came in at .1 % , a 5% annual increase, year over year.
That still is well above the 2 % rate of inflation,
that the Fed is trying to "get back" to by raising rates to catch up with 5 % "real " US inflation.
But you see, the market knows all of that. Everybody knows.
So after the" initial pop" of "crowd buying and short covering," that move was over, just like that.
This mornings S+P 500 High of 4134.37, an important one,
is now left "hanging in the sky," a chinese candlestick terminology, for an "exhaustive bearish candle"
And until buyers are able to push past that "hang point",
....then buyers shall remain on the defensive.
S+P 500 NOON OPEN 4116.13
THE_UNWIND
WOODS OF CONNECICUT