I don't see inflation cresting as "horrible, horrible news". CR +10.2%, CMMC 6.3%, UVXY -4.8%. Not sure why "price action" guides one to trade UVXY today.
I dunno about "cresting", everything I read says they were bad numbers: https://finance.yahoo.com/news/horrible-cpi-bracing-jumbo-hike-130817185.html https://finance.yahoo.com/news/inflation-grocery-prices-jumped-130-in-september-160403150.html The market sure seemed to think they were bad, hence its cratering before this remarkable rally. What is your read on the numbers? They were "cresting" so really they were good?
i just trade price action; crushed uvxy premkt, then tqqq/soxl on rally, now flipping back to inverses if they ever fkng bounce i dont care about inflation or the economy or what it all means, im a price action trader looking to make money off volatile moves. re what it all means, zero fucks given, to quote dest Ima trader, i hustle wall street
%% Looks like the market hated them. But like Art Cashin says for years/ ''the shorts help fuel the rally ''[I cant prove it but i think that UBS floor manager @ NYSE is worth about $10 million]
You gotta be kitten. ES up almost 200 points from open. This might just become the biggest intraday bounce in stock market history.
Radically higher? Based on what assumptions? That people have a lot of money in their pockets to buy overpriced, low quality products that are designed to last for a very short time? I don't see that happening for many years to come. We must be living on different planets. In my province 70% of the residents can't make their ends meet. We hit the wall at some point and need to push the reset button.