since 2008, sending it daily shortly after the market close.
The opinions expressed below are my own and do not necessarily represent those of Harvest Volatility Management, LLC.
Quintessential summer. Today is what we refer to when we talk about the summer doldrums. Capital flow was 87% and the high/low range of the day was 0.37%, which is something we would expect to occur about once every 29 sessions. That’s quiet. It’s not absurdly quiet. It’s just something that happens when the news is light and it’s late in the summer.
Oh, before I forget, the July PPI (0.0% vs 0.2% est & 0.3% prior) came out this morning. The data shows that inflation isn’t an immediate worry and so the markets didn’t react to the number.
July CPI ex food & energy (0.2% est vs 0.2% prior) releasestomorrow
. I expect the same kind of non-reaction from markets when we learn the data.There’s no need to make a mountain out of a molehill. Today was a going-through-the-motions day.
See youtomorrow
,-Mike