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Thursday’s CPI release should prove pivotal for markets

Equity markets have enjoyed a bit more bounce than expected into Thursday’s CPI report, but if the downward bias of cycles into late January along with the formation of intra-day exhaustion into Wednesday’s close for SPX, QQQ are any guide, Thursday might be a turning point for weakness into the back half of January.  Treasury yields look to have bottomed, and the rally in many sub-industry groups like Retail, Autos, Casinos looks to be nearing resistance t...

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