Gains today on the live trades for July CPI. The biggest part of the market move was 1-3 minutes after the CPI release pre-market with a choppy day session. The 200K Portfolio was up $1,600 and the 50K Portfolio was up $375. CPI did not make a new high so the stock market bulls pushed the market higher on "peak inflation" which is something they have called for the last 10 months.
The liquidity continues to provide strength to push the market higher regardless of the fundamentals. We will get the Fed's balance sheet tomorrow.
We said yesterday that the bulls love to turn CPI into a bullish narrative. If it makes a new high, it continues to be peak inflation, if there is a downtick, it is peak inflation for sure now.....
We are flat at the end of the day and we anticipate moves in either direction with our fully automated trading program.