This morning’s futures charts are a picture-perfect image of what the bulls want to see. We have the /NQ gliding effortlessly up to lifetime highs.
Into Thin Air
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Run Over
I am the first one to share the news that I had a fantastic trading day. This is not one of those times. On the contrary, I got hammered by 2.56%, and I screamed in retreat from over 100% committed to merely 50%. The well-received CPI ran over me like a truck.
Gyrations
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.
Immediate CPI Reaction
The CPI numbers have hit, and for the first time in half a year, the expectation actually met reality.
Love ‘Em and Leave ‘Em
You are disappointing me, Slope. Truly disappointing me! I’m in my 21st year of doing this, and in spite of all the features crammed onto the site, this is the kind of subscription “growth” I’ve enjoyed this year. How should this make me feel? Don’t go breaking my heart!
