Stocks continue to inch higher with algos leading the way amidst acceptable economic prints.

continued for members…

With retail sales coming in below most estimates, the Fed continues to have no reason not to cut rates in the next few months. Keep an eye on Thursday’s housing data, as shelter continues to be among the most problematic inflation components.

Not much to report, as our base case is still very much on track. VIX is still in the basement……USDJPY is still climbing with no resistance until 167.25 once the 2.24 is broken……and oil prices are behaving themselves. The bond market is happy, so stocks are also happy.

Look for another update on Sunday.