Good Thursday morning. This mornings CPI report came in slightly above estimates with September prices paid for consumers rising .04% month/month vs estimates of .03%. Year over year, core CPI came in at 4.1% vs estimates of 4.1%. Equity futures have fallen slightly on the news while bond yields (10 yr) are essentially unchanged.

Here’s why this report doesn't matter and why I expect the move higher in stocks to continue, unabated; we have a series of “tells” over the last 4 days that are speaking loudly.

Market Tells Are Pointing to a Sharp Move Higher in Stocks

1) On Friday we got a “hot” jobs report that initially hit the markets (hard), however stocks then surged higher immediately following the open with a strong smart money hour close. Friday also brought us multiple and significant outside reversal days in our most most indexes and sectors, as rates plummeted lower. BIG tells here folks. Friday almost certainly marked the lows of the seasonally weak August-October time ...