Actually, CPI carries more weight than PPI. But we're in murky water with Trump being the boss again (as in, will he push Powell off the cliff and reverse the existing economic policy?). As such, no matter how bad the economic number, the market could simply shrug it off. We'll just have to wait and see.
Erdoğan took on Turkey’s high inflation by lowering interest rates and increasing money. Hit the nitrous button!
It's stuff like this which makes me increasingly convinced I'm living in a simulation. Dude. Did you check the calendar? You're speaking about an event which already happened. LOL. Under normal circumstances, I'd say we rally or inch higher into FOMC by the middle of next week, but I think anything goes these next few days or weeks as there's still too much uncertainty about what Trump will do or don't do. I see a lot of people elsewhere looking for a big rally, but Trump's 1st day in office in 2017 was actually a red day.
I wanted to short this, but I'm often wrong (and early), so I'm going long here following the trend @ 57.25. 5 point stop. Let's see if I bought the top or not. Open ended target.
I'm not loving my late entry, so I'm moving the stop to lock in 1 tick already. 57.50. Using Friday's close - the market's up half a percent already. 1 % up around 6093. May hold for that if I get lucky. EDIT: And out for 1 tick. Probably no trades until RTH now. My hunch is conditions won't be the best in the days to come as it could be less orderly and predictable than you'd normally see.