PPI more than surprise
|S&P 500 celebrated tame CPI that I predicted, but then gyrated wildly within 5,555 – 5,615 range, giving both profits and whipsaws. Did you see yesterday‘s video that laid out the prediction and aftermath? How about today‘s PPI? I predicted it to be tame, and took a cross-asset dive in the daily video – SPX, NDX, gold, silver and oil, to clients‘ benefit. The single worry with the incoming PPI is that it was a bit too low – so far, no one is worried about recession / deflation or weeks ago mentioned stagflation. Companies need pricing power, and PPI shows they don‘t have that at the moment. More on that for clients below.
As per the tweet right after the one below, my focus today is NVDA, TSLA and MSTR (with big banks and the great clue raised in the video). USD bullish call towards 105 is also working out well – plenty of alpha for clients as always – some premarket already too.
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