Stocks And Precious Metals Charts - Walk Down Memory Lane

The CPI came in much higher than expected this morning, causing the markets to sell off briskly on concerns about inflation and the Fed posture towards interest rates. 

The Dollar rallied on the expectations of higher interest rates. 

Gold and silver retreated. 

Stocks sold off fairly sharply and steadily again, going out near the lows. 

As a reminder there is still an open gap around 4000 level, lower than the close of the SP 500 today.

PPI tomorrow will give us a look at the wholesale inflation picture. 

Personally, I do think this is a sign of an uneven recovery from the Covid shutdown. 

The results of the CPI were heavily skewed by just a couple of factors that are not likely to repeat over time. 

But fear sells clicks.

And facilitate the wash cycle of a valuation wash and rinse adjustment.

Have a pleasant evening. 

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Disclaimer: These are personal observations about the economy and the markets. In providing information, I hope this allows you to make your own decisions in an informed manner, even if it is from ...

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