The teeny-tiny range of this directionless market is starting to make me lose my mind.

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Remember when we all thought that once quantitative tightening would take place, it would take the equity market with it? Good times. Good times.

Same ****, different day! We have a bit of weakness, only to have the market turn around for no particular reason and explode high to new lifetime highs. I suppose one motivation today was to get the /NQ to cross the psychologically important 20,000 level for the first time. Yay.

The CPI numbers just came out, and they tell you what you already know from all your grocery shopping, your gas-tank-filling, and your bills-paying. We have 0% inflation. Absolutely.

Look, this is simple: the members of the FOMC are human beings and, as such, as innately political. They want to be left ALONE, and if the current administration loses in five months, the Fed is going to very-much-not-be-left-alone. It’s already been made clear by the opposition that they want much greater oversight and control over the Fed.
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