Good Morning and Happy Friday!
Futures are up this morning and have been consolidating sideways to up. The drop from the top was less than 2%. That may be the low for now but a bit lower would be welcome. We are moving into a seasonally bullish period and even with the hot CPI, the sentiment is still relatively bullish. Prices are moving up faster than wages so inflation continues to move higher but there are still very strong deflationary forces that in the end will counter the current inflationary pressures. But it may take much longer than anticipated. Bond rates are starting to move higher but Ten Year Treasuries, would need to move well above 2% to counter the uptrend that the stock market is experiencing. So as I always say, stay long and trim positions that have moved up nicely. Enjoy your weekend!
Talk soon,
Al Losada
Founder | SimpleOptionStrategies.com
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