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VRA Letter: April CPI; Lowest Inflation in >3 Years. Direct Evidence; Markets Discounting Falling Inflation & Rates. Pounding the Table on PM’s/Miners

Good Wednesday morning. Heads up: I’m scheduled to be on Fox Business with the always locked-in Charles Payne and his excellent show "Making Money” in the 2 PM EST hour. Hope you can join us! Following yesterdays tame PPI, fe ...

Posted On May 15, 20245 MIN Read
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Good Wednesday morning. Heads up: I’m scheduled to be on Fox Business with the always locked-in Charles Payne and his excellent show "Making Money” in the 2 PM EST hour. Hope you can join us!

Following yesterdays tame PPI, featuring a sharp downward revision in the March PPI from 0.2% to –0.1% the markets responded with a fresh ATH in Nasdaq, with semis leading the way higher (+1.7%). Impressively, Nasdaq up-volume came in with a reading of 83%. We continue to witness textbook (early) bull market action, with 11/12 VRA Investing System Screens bullish (also a record).

April CPI: Lowest Inflation Readings in More Than 3 Years

Against yesterdays positive PPI backdrop, this morning we got the April CPI report which came in with a solid beat, showing .3% inflation versus the estimate of .4%, pushing year/year inflation down to 3.4%, the lowest readings in more than 3 years.  The markets like the news, with Dow futures +150, gold +$20 and yields plummeting lower, with the 10 year y...

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