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.
But we see things outside the FEDs box and realize that inflation is in fact sticky
I'm still counting on 4005 to remain supportive.
There is a gap back down to 3905.
Should 3905...
An example of Fib circles exhibiting their "stickiness"
Price prefers to trend along the circle, rather than break out. Although this breakout will come, it finds it 'easier'
I'm not sure of the mathematical relationship that allows this, but it is common and I have seen it among many of charts published and during personal time
If anyone has insight please...