A move like we saw Thursday looks to be a bit of a squeeze at this stage of the game.
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But we can’t let one stock overshadow everything that’s happening in the market right now…
Nvidia and chip stocks have had a massive run higher, and I would be very, very careful here.
Blue Chips or Tech Leading? NVDA, HD, WMT, a Bond Breakdown, Sector Rotation and My Morning Hit List
Whenever we have a short week, volume won’t start picking up until after the first day or two.
Futures were all higher this morning until we got the latest Producer Price Index inflation data.
We just entered the weakest two-week period of the year for the S&P 500, dating back to 1928, according to Goldman Sachs…
The market sold off hard on Tuesday following the latest inflation data, but things are looking up Tuesday — so are we pulling back or breaking down?
Year over year excluding more volatile food and energy prices, core CPI grew 3.9% versus expectations of 3.7%.
The major indices are all flat to start the week as everyone waits for the next round of inflation data via the Consumer Price Index coming later this week.
The bond market (TLT) is down again today, but the market is waiting for something, and that something is the next Consumer Price Index next week.