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Long-time readers know I have pretty much zero interest in sports or popular culture. I make up for it with my interest in news and politics (which is ironic, since I’m constantly begging people not to talk politics in here). Anyway, we had friends over last night and thoroughly enjoyed some dinner theatre by way of the debate. Here’s a graphic statista came up with:
The hour before the open was ridiculous. It went like this:
Because, Walk the Line, right? Right? Sheesh. Let’s move on.
Anyway, the CPI came in right where they predicted for Y/Y and M/M, but the core CPI came in hot at 0.3 instead of 0.2. That’s all it took for folks to lose hope of a 50 bps cut in a week, and thus equities are red right now (although not by that much). The important part is that the resistance line I’ve been yammering on about endlessly held beautifully on the /ES:
I’ll begin this post by noting that I love charts. I began my market journey using charts, and I have noted over the years that technical analysis is a great tool to have in a trader’s or investor’s tool box. So many times over the years has an existing trend kept me patient despite a shorter-term move to the contrary. So many times have breakdowns of technical parameters kept me from catastrophic losses, or holds of said parameters kept me in the game for large profits. In short, I am one of these guys…
