Yesterday morning we got the CPI. This morning, we got the PPI. Every single Forecast was matched to the exact, precise level with the Actual number. Spooky how this government data works, isn’t it? Sure is nice to live in a country with almost no inflation! Garsh!
Equities don’t care, though. For a solid week – – a week!! – – markets have basically gone absolutely nowhere. Here’s the NASDAQ futures:
Silver, on the other hand, continues to flop around like a dying fish. In retrospect, I can see that the pattern failed on Halloween (fittingly enough).
Sadly, after that failure, I still tried a few times to get long silver, hoping the pattern would shore itself up. Nope. I’ve captured what it felt like, although I finally got wise to this a couple of days ago.
What I can say, with more optimism, is that in spite of the markets flat lining for a full week, my own portfolio has been doing nicely. It’s entirely short, and it’s profitable from end to end now. Since that was accomplished in a crazy-bullish environment, and these options don’t expire for at LEAST five months (and all the way into 2026), I’m resting comfortably.
Here’s how I perceive the S&P 500 futures market right now, which is exciting:
