[Chris Johnson Penny Hawk Header]( CPI hits the tape today Wednesday, May 10, 2023 Hello â Itâs HUMP DAY and we here at Money Morning Live are getting over that mid-week hump by striving to show you exactly how you need to be trading this market each and every day! To kick things off the best day trader west of the Mississippi Kenny âThe Warlock '' Glick is hitting the top of the morning show to break down how to trade earnings - a notoriously volatile moment for individual companies - using his VWAP break strategy. But we canât forget that a key inflation indicator - Consumer Price Index (CPI) is getting released in just a few minutes⦠According to the [Inflation nowcasts from the Cleveland Fed]( suggest a 0.61% month-over-month increase in CPI for April, perhaps driven in part by rising energy costs during the month. That would disappoint the Fed, as it would hold annual inflation at over 5% Donât take my word for it, we have Garrett {NAME} here to break down what the CPI number that is about to drop actually is, what it means, and heâs going to give us an update on the debt ceiling. And for those of you who didnât know Garrett has been studying the macro market for so long Iâm convinced he was born with a copy of âMacroeconomics: Principles, Problems, and Policiesâ In his hand PLUS, Iâll be on the big show today to pinpoint the fork in the road for this bifurcated market and break down the implications. ([I talked about this just a few days ago, if you miss the morning show or want to digest the information a bit - you can check out what I said here]( To keep it brief one fork of the market is represented by the Nasdaq 100 (QQQ) which turned in a slight loss for the week, but is trading 21% higher for the year as investors and traders alike have been flocking to the large cap names as a safe harbor in this otherwise dangerous market. The other fork in the market is the Russell 2000 small cap index (IWM). For the year, the small cap stocks are up 0.4%. Thatâs not a typo. With just a slight push lower, the extremely important small cap sector slips into the red AGAIN for the year. The stark difference in these two areas of the market is what is wrong. Weâre still not seeing any signs of true risk-taking from investors. This is evidenced by the fact that the small cap sector continues to not only lag the broader markets but is now looking to go back into the red for the year. Put simply, investors just donât have any confidence in the market. Thatâs not all we have planned for the morning and if I can avoid the shiny objects you guys put in chat Iâll get out of the way for Mark Sebastian to come in and break down how he spots his âuglyâ options in the crowd. [Weâre live in five minutes - click here to join us]( Chris Johnson By texting INCOME to 21852, you are expressly consenting to be texted about investing news, trade alerts and marketing communications from Money Map Press, LLC about Money Morning's Red Alert text messaging service at the phone number you use, even if the phone number is on a corporate, state or national do not call list. You also consent and unconditionally agree to our [Privacy Policy]( and [Terms of Use]( including the arbitration provision and class action waiver contained therein. Your consent is not required to make a purchase. Msgs may be sent using automated technology. Message frequency varies. Msg&data rates may apply. Text HELP for HELP and Text STOP to STOP. You are receiving this e-mail at {EMAIL}, as part of your subscription to Penny Hawk. To remove your email from this list: [unsubscribe here]( To cancel, or for any other questions or requests, please contact our Customer Service team:
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