The CPI numbers have hit, and for the first time in half a year, the expectation actually met reality.
 

The reaction was immediate and decidedly bullish. As I’m typing this, equity futures are up about 3/4% across the board, such as the /NQ.
 

Longer-term, you can see the /NQ approaching lifetime highs.
 

Even more pronounced are the small caps, by way of /RTY, which is up double that amount percentage-wise and has pushed beyond its peak earlier this month.
 

At the same time, fear (volatility) is collapsed back to the mid-teens.
 

All of which means a suck opening for any bears out there! Let’s see what things look like half an hour into the trading day, though.

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