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Chris Ciovacco highlights that there is currently no momentum among markets or their investors calling for an interest rate increase by the Federal Reserve following the latest CPI release.
Ciovacco references comments made by Rick Santelli on CNBC, emphasizing the current lack of market appetite for a rate hike.
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Ciovacco has previously noted that all NASDAQ 100 signals have been recorded during secular bull markets and not during periods of stagnation, according to his recent analysis. He has also pointed to over a century of data suggesting improved bull market odds after October 30 this year, as outlined in another recent report. These observations provide additional context for his current views on market sentiment and Federal Reserve policy expectations.