last night's market's performance was superior. haven't seen nasdaq up more than 7% in a super long time. all because CPI print is 7.7. yes its good that the CPI is going down but isnt the target 2%? i guess markets are optimistic that last night's 7.7 print is an indicator that CPI is on its way to 2%. i would say its a temporary relief rally that will top out in a few more trading sessions? why? because even though CPI is now 7.7, 7.7 is still a high number. just my $0.02. congrats to everyone who were long before market opened last night.
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Comments
Cannot say whether the market is 100% bullish until we monitor the trend for a month or two.
We have seen the trend reversing after a big dip many times. We can consider this only as a small term market correction.
There are 1000s of investors they wait for a dip to jump in. These group of investors can make a bullish market feeling on and off. It works either way. When the market turns bullish, these group starts cashing to create bearish trend too.
Good points made