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Although there’s no doubt that the bulls are absolutely stomping the bears this morning, the movement so far isn’t exactly definitive. Incredibly, the /NQ actually went red briefly during all the gyrations following the mild CPI report. As of this moment, the /ES and /NQ are both up half a percent while the small caps are up more strongly at one and two thirds percent.
The CPI numbers have hit, and for the first time in half a year, the expectation actually met reality.
