All times Wall Street hours Monday- FOMC Barr speaks 10am Tuesday- FOMC Bullard speaks 9am, 3 year auction 1:01pm Wednesday- CPI 8:30am, FOMC Kashkari speaks 9:45am, 10 year bond auction 1:01pm Thursday-PPI & Unemployment claims 8:30am, Federal Budget Balance 11:00am, Fed Waller speaks 3:45pm Friday- Import/ Export MoM index 8:30am, Michigan Consumer Sentiment 10am
So what did I miss last week! Well this week we have a few fed members speaking and some inflation data to digest CPI & PPI. The employment numbers are still showing a strong economy so I’m definitely expecting rate hike on July 26th. For this week I wouldn’t be surprised to see a 434 retest I know everyone wants 420 again but that won’t happen nor will we see 400 again until a black swan event happens. Buy the dip is still the theme, obviously 445 break will squeeze quickly to 448. We understand better how little we understand inflation- J POWELL As always trade what’s in front of you good luck