[WATCH] Closing Bell — A Slave to Inflation

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In today’s Money Weekend…last night’s CPI figures…a large miss could ignite a huge move in markets in either direction…strong selling could return…and more…

The CPI figures released last night will create market direction for the foreseeable future. I shot the ‘Closing Bell’ video yesterday afternoon, so I don’t know whether they came in above or below market expectations.

But the charts are neatly poised at a point where a large miss could ignite a huge move in markets in either direction.

A hot CPI inflation figure could see strong selling return. Particularly, the ASX 200 is at risk of further downside now that the final pillar of the banks supporting the market has been knocked over with the 50-basis-point rate rise.

If CPI was below expectations, there is certainly the possibility that we see a sharp short squeeze in the short term, but it wouldn’t negate the overall bearish bigger picture.

I show you a detailed analysis of the setup in the ASX 200 and S&P 500 in the latest instalment of the ‘Closing Bell’ above.

Until next week,

Murray Dawes Signature

Murray Dawes,
Editor, Money Weekend

About Murray Dawes

Murray Dawes is the Editor of Pivot Trader and contributing Editor at Money Morning. He was one of five, from 5,000 applicants, chosen for a graduate position with the Swiss Banking Corporation — now part of banking giant UBS. The bosses quickly cottoned on to his potential and pushed him…

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