Important quote: “Over the past 100 years, the average annual CPI, as reported by the US government, has been much higher than 2.0%, and the economy has grown just fine.
In my view, the Fed uses CPI as another banking cartel control tool.” Bill Cara
Paid Episode 13 min
Free Episode 7 min
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Summary of the day
Headline:
Inflation Falls Below 3% for First Time Since 2021
Consumer prices rose 2.9 percent in the year through July, a downtick from the prior month. The report keeps the Federal Reserve firmly on track to cut interest rates next month.
Breadth
364 new highs
192 new lows
Nasdaq New Highs/Lows 63 Highs vs 102 Lows
52% advancing 44% declining
50% below 50 day ma
38% below the 200 day ma
Stuck out
Dow 30 was up more than all other indices
Strong
Weak
What to watch
Watch mag 7
Watch yields
Credit card delinquency rate (1991-Present)
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