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Stocks rallied yesterday on news that inflation, still not gone… could have been worse 🤔. Tech stocks helped push the S&P500 to a fresh, all-time high.

Stocks opened the session in the red and desperately clawed its way higher, ultimately falling short of gains. Worries about today’s inflation figure kept the bulls on the sidelines opening the field for a rare outperformance of value stocks.

Stocks slipped on Friday, giving up solid, early gains, led into the red by NVIDIA on profit taking. Monthly employment figures showed a healthy labor market… but not too healthy, which should keep the Fed at ease.

Stocks rallied yesterday because Chairman Powell decided not to upset the rally – thanks Jay. The trade deficit got bigger in January because happy Americans are buying foreign goods, which is a sign of economic health, in case you wanted to know.

Stocks gained in a bumpety-bump session fraught with all sorts of “tape” noise. Powell gave us nothing new in his Capitol Hill testimony with more nothing new expected today.

Stocks took one straight on the chin yesterday dragged down by all-popular Apple’s China slip. ISM’s Services Index underwhelmed, but unfortunately, it doesn’t cover the portion of services that are causing inflation to be sticky… housing.

Stocks slipped yesterday in a vacuum of news leaving unguided traders on their own to stare down and justify bubble-like valuations approaching or at new highs. Bitcoin is banging its head on the ceiling high set in 2021, and with ETFs online, there is lot more wind to fill its sails— in either...