It’s been nearly three hours since the CPI report came out, and the market just doesn’t know what to do with itself. As I am typing these words, the /ES is unchanged, the /NQ is down, the /RTY is up, and every one of them looks like an EKG printout. Lest you think that the market is a bar-goon right now, kindly look at the percentage of stocks above their 200-day moving average. It’s awfully damned high:




