Hot PPI Numbers Bring Out Buyers

A long time ago, I stopped trying to predict the reaction of the market to news events. I try to recognize when a news event is about to happen but prefer to rely on the Market telling me its determination of whether the news is bullish or bearish. Although, it was a little surprising to see the recovery from the pre-market session that was down initially. Market internals have still not strengthened as the Indices approach an important Key Reference Area. Tomorrow’s reaction to CPI numbers will be critical to the next greater degree time and price move.

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