Over the past few weeks, we’ve talked about some of the various unsettling intermarket signals, like the strengthening dollar, that have come across the screens.
Today, in the wake of a higher-than-expected inflation reading, the danger that had been lurking “out there” is now in our laps. The greenback is getting even stronger, and stocks, led by chipmakers, are dropping fast.
Not too long ago, the odds of a March Fed rate cut were high. Today, there’s a 60% chance there will be no cut in May. With the CPI numbers we’ve just seen, no one’s seriously taking bets until June.
But that’s not to say there are no opportunities out there. We’ll be looking at where the money’s headed in today’s video.