S&P 500 with yields gyrated wildly on celebrating CPI and ignoring sticky core CPI yesterday, and the buyers won in the end as my four conditions weren’t met, yet market breadth watchers can‘t speak about confirmations really. Well before the weak bullish momentum from yesterday petered out, I called for the bears to start moving, and they did. BoE rate hike – even if expected, illustrated the universal problem of a not disinflating fast enough core inflation. (…) Thursday‘s PPI would probably underwhelm, and come only a bit above zero, and the core PPI as well. Unemployment claims at 250K see…

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