Mercifully, the CPI numbers came out, and they are a bit on the hot side. Nothing big, but at least a little strong. Incidentally, if you think the price of goods and services is only going up 3.7% per year, I’ve got some FTX Tokens I’d like to sell you in exchange for gold bullion.
As of this writing, about 15 minutes after the release, it seems the market isn’t absolutely sure what to do with this data. All the stock futures are in the red, although, incredibly, during the spasms following the CPI, they popped green here and there.
I’ve got to tell you, when I was looking at the index charts last night, I was astonished at how amazing the bearish setups were. It’s honestly just breathtaking. Of course, it seems that any time the market actually starts getting clobbered, that goddamned pig Yellen shows up with another plan (which is how we’re $33 trillion in debt, by the way), so I never get my hopes up too high.
However, with the VIX slunking along at preposterly low levels, I am highly confident that there will be at least a brief period in the weeks ahead when the bears absolutely rock the free world.
