CPI Report Doesn't Disappoint but Can Bulls Take Control?

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Our View

I don’t think people read the Opening Print because they don't understand what's going on. This newsletter has never been about being the smartest; it's about applying street smarts.

I am not saying the markets won’t shake off the current sell off — eventually it will — but I think no matter how far it rallies it's all part of a big bear market dead-cat bounce. That doesn't mean the ES can’t trade up to 4900, but as the news piles up and the possibility of war continues, the index markets — not just in the US but all over the world — will be susceptible to further down drafts.

And if Putin uses a battlefield nuke in Ukraine, the Dow will drop 5,000 points. I know this may seem like a scare tactic, but there are a lot of loose cannons floating around and should one go off, I think it will be followed by more. Chaos tends to follow chaos.

At the end of the day, we all need to live our lives but we also should be preparing in case something does. What does that mean? That ones on you!

Long-time readers know that I’m a bull at heart. As I have always said, the S&P can make good news out of bad and can shake off a few headwinds at a time. However, let’s not pretend there aren’t concerns out there.