Observations March 14, 2023
Risk climbs despite CPI print, indicates inflation and rate hike expectations easing
- Positive price action following what would have otherwise been a bearish data point suggests that bearish sentiment, defined by fears of higher inflation and rate hikes, is waning.
- Steady pushback from bears throughout midday unable to close gap.
- Sharp rally before closing bell further supports bullish repricing thesis.
- Barring systemic failures not presently advertised by price action, bulls should continue gaining ground.
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