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An hour before the opening bell on Tuesday comes the Consumer Price Index reports. These days, I consider this vastly more important than what used to be the big monthly report, which was unemployment. Inflation has been the big topic this year, and if we get another set of strong numbers (and that’s not “strong” in a positive sense), people could start to think that we’re starting to have a serious “non-transitory” problem on our hands.
Well, folks, this completely captured market is staying true to form. The entire trading day was absolutely snooze-worthy, with literally a 2 point range on the ES enveloping almost the entire normal trading session.
Although gold seems to have made it its specialty to stumble and fall persistently during the past eleven months. I haven’t lost faith that the little fellow will eventually wake up to the fact that the trillions of dollars of toilet paper flying around are not as nice to own as the ancient precious metal.
From a chart perspective, it honestly just needs to do one thing: get above that price gap.
Brilliant timing being back as I am seeing some interesting developments in the crypto markets right now. Before we get to that here’s a quick update on my medical trip to Barcelona where I had my left eye operated at the world renowned IMO clinic. If you don’t care I honestly don’t blame you, just scroll down a bit to get to the charts.
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