Groundhog DayIt feels like groundhog day whenever CPI prints roll around.
Last time on our game of "Has Inflation Peaked?" the Fed was confident inflation was going to decline MOM.
But we see things outside the FEDs box and realize that inflation is in fact sticky
I'm still counting on 4005 to remain supportive.
There is a gap back down to 3905.
Should 3905 fall, big hedges like JHEQX could flip negative gamma and accelerate a decline to ~3200 and a VIX ~40.
