Stocks And Precious Metals Charts – Soft CPI

The Consumer Price Index data came in soft to in-line this morning, which lit a fire under the bulls, who were eyeing the defensive short positions in the market with a gleam in their eye.And so the momentum and meme buyers were piling in, trying to grab a piece of the upward momentum which turned out to be a powerful and fairly broad rally.The Dollar was sold fairly hard, as safe havens were abandoned in order to add to risk profiles.Gold and silver rallied fairly hard as well, in part in a reaction to the Dollar drop but also because of the pent-up buying pressure being fed by physical offtakes, largely in Asia for gold, and industrial usage for silver.As you might surmise VIX plummeted back down to its recent lows.There will be a stock market option expiration on Friday.Maybe not just yet, but a rinse may be lurking in the hearts of those who pull the strings on the markets.The geopolitical situation grows increasingly fraught with unaccounted risks.Have a pleasant evening. More By This Author:Stocks And Precious Metals Charts – Hot PPI
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