Stock Indices Surge On CPI Numbers

The Stock Indices opened higher today on thoughts the Fed will not be increasing interest rates as high as they have been. Market Breadth expanded nicely but volume still left a lot to be desired. The rally is simply not attracting new buyers and that is concerning. However, price development must be respected. Having closed at the highs today suggests higher prices tomorrow. If that occurs, watch for a divergence in breadth. It will signal a possible rotation lower.

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