Bulls Are Flirting With Trouble Ahead of CPI Report
The S&P has 2 clear levels to hold.
Our View
I don't think there is much we don't know at this point. Is the ES setting up to go lower? It could be, but while I think lower prices overall are on the way, I cannot rule out further dead-cat bounces.
Did the markets get weak in anticipation of higher inflation numbers on Wednesday? I think that was part of it, definitely. However, the ES and …