SPY FLAT

CPI 6.4 came in around what I was thinking 6.5 but the lag on housing is messing things up with rent which takes about a year for the price of lower rent to kick in remember 40% of CPI is shelter. Oil prices dipped with news about the sell we are doing which should help at the pump in a few weeks. We also had bonds green and market green at the same time today. What does all this mean straight up confusion I believe we are about to take off unless there is a geopolitical event that brings down the market and that can happen any week the way things are going. Remember February 24th marks the 1 year anniversary of the Ukraine invasion hopefully nothing happens but something to keep in mind. So let’s watch the pennant for a breakout for 2 consecutive days and that will show the way. Also tomorrow US retail sales month over month should help to see how much people are spending, later on the 20 year bond auction happens also could affect the market in a negative way. But the way we stayed flat shows a lot of strength for bulls the only thing I can guarantee is that you will never buy a bag of chips that doesn’t have a bunch of broken ones in it crumbs always guaranteed
As always trade what’s in front of you good luck