S&P 500 Recovers Partially – CPI Game Plan

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S&P 500 partially recovered from Thursday‘s setback, but the bulls didn‘t get back to the driver‘s seat. Market breadth improved though sufficiently, and all would look fine unless you would notice the tech leading to the downside, financials with Russell 2000 sputtering, and… the wildly non-confirming bond market. Rising yields haven‘t woken up the dollar that‘s readying a break above 130.50 – more rate hikes and intention to keep rates restrictive for longer (that‘s three 25bp hikes for 2023 taking Fed funds rate from current 4.75% to below 5.25%), preemting easing of monetary policy as prev…

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