The Rock Trading #TRT
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WELCOME TO DISINFLATION MODE!
🕑 Added 2024-06-13 12:52:51 +0000 UTCBreaking News out this morning: PPI YOY 2.2, EXP 2.5 PPI MOM -0.2 EXP 0.1 CORE PPI YOY 2.3 BELOW EXP. CORE PPI MOM 0.0%
This data would definitely be very welcomed by Powell and Company after yesterday's somewhat hawkish tone suggesting only 1 rate cut this year. A few more months of data, and I think market will call their bluff and put up 2-3 rate cuts this year starting in September.
Markets pretty hot all around here, perhaps we go little higher off this news today and hit that trendline above 547 but I do also believe it's time to consolidate and bit.
If you been enjoying this run on options, its time to trim down and stack the chips and wait for the next setup. Next Week should be pretty quiet with relatively no major economic data $SPY could end up range bound to consolidate.
Calling it a day this morning, be back tomorrow for Michigan data.
