Alternative Path

[gdl]

As expected a big number on the PPI. market trying to shrug it off. If they do it only makes the CPI number all the more dramatic. I suspect however we start the slide here. WHY? The employment report and wage spike should do it.

If not I add more PUTS for Tuesday debacle leading into Wednesday FED announcement. I guess when the FED says they are slowing the pace of rate hikes AND sees persistent inflation they kind of skipped the last part. not anymore. What it means is that the wuss FED gave a holiday treat so there is no major drop in market till after we all spend our money.

Interesting to see the market shrug this off today.

ONCE it breaks 3900 we drop to 3700. First stop and it should easily be by Tuesday. I am sure this time around the Fed announcement will actually listen when they state that INFLATION is more persistent than thought. They gave a gift to the retailers this holiday by delaying the inevitable rate spike.