The CPI numbers came in a little disjointed this morning, enabling a vigorous wash and rinse on Wall Street. 

If you just look at the end result it appears to be a proper risk on day.

The major indices set new lows early on.

And then rocketed back in what looks more like a relief rally than a capitulation bottom. 

Time will tell on that.

Gold and silver similarly fell down hard, but managed to find a footing and finish up fairly well on the day.

I took a ride up from the bottom but exited those add-ons into the close.

This market still seems dangerously unbalanced.

The Dollar dropped as did the VIX.

Did all of this mean anything?

Only to reinforce the utterly cynical and shall underpinnings of the US financial markets.

We are all traders now.

I still like gold here, and to some extent silver which is less of a safe haven.

But this market is still one exogenous event away from a proper meltdown. 

CPI is really not exogenous since it was probably leaked and spun all over the place.

It is just a means, as most things become in a cynically corrupt institution.

Have a pleasant evening. 

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