Watching 38.2% Fib ($104.645) for support. If this support fails, then watching 61.8% Fib ($98.386). The October inflation report was certainly good news for the FED and the market. However, inflation is not stopping anytime soon.
www.macrotrends.net/...flation-rate-by-year
This link will bring you to the annual U.S inflation rate dating back to 1914. Look at the rate from 1969 - 1970's. We are likely in 1969 or 1970.
www.macrotrends.net/...ate-historical-chart
This link will bring you to a graph of the U.S Federal Funds Rate going back to 1954. Rates have been far lower since 2008 than they were from 1954 - 1969, where the FED began aggressively hiking the U.S into a recession before prematurely pivoting. Inflation will pick up again far more aggressively.
The FED has signaled that they are aware of the past mistakes of the FED prematurely pivoting and that a clear indication of inflation coming down is required in order to reverse policy. Inflation will remain "peaky", though a reversion to 2% will not come anytime soon. If the FED pivots: Hyperinflation.
www.macrotrends.net/...flation-rate-by-year
This link will bring you to the annual U.S inflation rate dating back to 1914. Look at the rate from 1969 - 1970's. We are likely in 1969 or 1970.
www.macrotrends.net/...ate-historical-chart
This link will bring you to a graph of the U.S Federal Funds Rate going back to 1954. Rates have been far lower since 2008 than they were from 1954 - 1969, where the FED began aggressively hiking the U.S into a recession before prematurely pivoting. Inflation will pick up again far more aggressively.
The FED has signaled that they are aware of the past mistakes of the FED prematurely pivoting and that a clear indication of inflation coming down is required in order to reverse policy. Inflation will remain "peaky", though a reversion to 2% will not come anytime soon. If the FED pivots: Hyperinflation.