Tests All Around

Futures are off about 10 points this morning in a rare holiday weekend drop……due primarily to a big drop in oil, which failed to top its plunging SMA10 and, instead, tested its SMA200 for the fifth time in the past six sessions.  More importantly, it broke a trend line dating back to Oct 3.Unless it … continue reading →

CPI: Jan 14, 2020

December 2019 headline CPI came in at 2.29% this morning, with a seasonally-adjusted drop from Nov 2019 coming in at -0.1%. This was based on a gas price YoY delta of +7.9%, well below the EIA’s own calculation of +9.10%.  Had 9.10% been used, headline CPI would have printed at over 2.5% and MoM would … continue reading →