Groundhog Day

It 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.
Place Your Bets


But we see things outside the FEDs box and realize that inflation is in fact sticky
Sticky Inflation will cause a Second Leg Down


I'm still counting on 4005 to remain supportive.
How a 17 Billion Fund Hedges Delta


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.

Beyond Technical AnalysisCPIinflationsticky

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