PLTR - I Was Concerned About The CPI Last Week More Selling This Week
2024-02-18 21:35:22 ET
Summary
- Many reject trying to predict market direction saying it's impossible. I say it is very possible if you read the signs correctly.
- That doesn't mean market direction is always knowable. The key is selecting the right indicators and knowing when it is meaningful.
- One of the best indicators right now besides interest rates and the VIX are the leadership stocks themselves. They are faltering, and you should take heed.
My last article is Rate Cuts For 2024? How About None? Is None Okay For Stocks? My premise for this past article was the very real possibility that the CPI would not give the result everyone was taking for granted. My point wasn’t rooted deeply in econometrics, just life experience when it comes to economic data, and this notion goes for stock prices as well. Nothing goes straight up; it is that simple. Also, the periodicity of when the numbers retreat follows a loose pattern. This was a partial influence, the main impetus for the call was the rise in the 10-year US bond rate. The article predicted that interest rates would break above 3.19% and headed to 4.30% this was on February 11. Here is the screenshot that I made that day of the 10-year bond…...
I Was Concerned About The CPI Last Week, More Selling This Week