Financial Media Goes Nuts Over CPI
(9/14/22) August CPI clocks-in at a hotter-than-expected 8.3%, and the financial media goes nuts, claiming yesterday's sell-off as "markets in turmoil." The reality was, yes, a big 4% sell-off, but a one-day drop that can only be compared to pre-pandemic market action in June of 2020. But more importantly, markets were able to uphold the bullish, rising trend line that has been building for the past few months. That trend will be tested today. The MACD buy-signal was not triggered yesterday, however, keeping downward pressure on the markets. And, despite the sharp sell-off, market volatility remains very muted. There really is no panic or fear in the markets, nor are there outflows of funds; this was not a big catalyst. There certainly are concerns for the future, including the Fed's next rate increase, and the fear the Fed will go too far and break something in the economy.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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