Insights on CPI

In the last 24 hours, I was trying to extrapolate some insight into how the market would react to the CPI release. It seemed like there was a whisper number suggesting it would come in cooler than expected. In fact, many had postulated that this could be a key pivot, potentially sparking a rally due to ‘oversold conditions.’

The issue was that institutional participation leading up to the release hinted that the data would be interpreted bearishly. After the initial algo spike, the follow-through confirmed that bearish read.

This cannot be good for any bulls today.

PPI is slated for tomorrow.