A powerful move off the CPI report which by the way we love the headline “Inflation eased to 8.2%” what world is this??? Its still 8.2%! Anyhow the equities tanked and now markets are screaming higher…maybe enough stops hit finally to bail, here is the 10 min NQ futures chart, just your garden variety 500 point loop:
Longer term we view this area as a must buy and its an area that we have been patiently waiting for. No doubt even amongst the crappy economic backdrop, we would suspect some massive buying and back and forth here. Here is the chart we have been sending and one Econemotions readers should be very familiar with:
