It’s been nearly three hours since the CPI was released, to the ecstatic delight of our bullish friends. Interesting, 100 points of the /ES were erased from the day’s peak, and it’ll be terribly interesting to see where all the dust finally settles at the close. It seems to me we’ve simply got another rapid peak, and there is firm support in that blue area I’ve emphasized. If, by tomorrow, we can break that level, then the bears have a serious chance of dishing out pain. I remain at 15% cash and am catching up on charts.
