Will A Hot CPI Sour the Tone?

This morning the core of the CPI came in above expectations. Here's the trading game plan.

PRE-OPEN MARKET COMMENTS TUESDAY - The CPI was largely in line with expectations. The core was a little hotter than expected, but not dramatically. After the breakout to a new hoy and ahead of the CPI, there was pressure for under-allocated Asset Managers to buy. They could not risk a monster gap up today where they get caught flat footed again. That is why we drifted higher Monday. A big move up today would have increased risk for them because they could not risk another lift off after the FOMC.

Daily Bulletin Continues...