January 12, 2023

Markets:

Stock futures fell after December’s consumer prices report but are trying to fight back.

The CPI report came in in line with expectations. Economists expected the consumer price index to dip 0.1% for December but rise 6.5% year-over-year, compared to a 0.1% monthly gain in November and an annual pace of 7.1%, according to Dow Jones.

Excluding food and energy prices, economists anticipated the CPI for December would be 0.3% higher than the prior month and 5.7% higher than a year ago.

On a year-over-year basis, the index rose 6.5%, still well above the Fed’s 2% inflation target.

Portfolio:

Such an important session today and tomorrow to see how trade and respond to today's data.  This is key and has the potential to set new trend lines and levels of support.  We will be watching this closely and then proceed as queue is igniting with monster ticks / opportunities developing.  We are about to absolutely crush the upcoming quarter should this play out as expected.  

We enter todays session holding set0-ups in PINS, CLF, and UMC.  Light in positions and we want to take advanatage of every opportunity we see igniting.  Be ready over the next few sessions.