8.5 prior 8.1 expected 8.24 cleveland fed estimate ??? actual
Everyone is going crazy about this CPI data like its gonna change anything. We already know inflation has peaked and will start to decline. It's doing that because the economy is slowing. The fed is still hiking and the inflation isn't going to go away fast enough for a soft landing. The markets may adjust to the data tomorrow, but it's not going to change our destiny: a recession by end of year.
Find the next peak, sell it, or short it. This moon mission is cancelled and you'll be stranded in space.
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The chart itself is a proxy for bull/bear sentiment. As you can clearly see, in spite of social media narrative, the market majority is still bullish.