This Week's Market Catalyst Is All On CPI

Payrolls pretty much came and went and the market barely cared. Semis still ripped, BTC poked above 82k for a bit and now we’re basically back around 80k. So I guess it all comes down to CPI on Friday. I’m mostly watching the MoM number. Something around 0.20–0.23% feels like the annoying outcome where it’s not really hot or cold enough to settle anything, and everyone just goes back to arguing about what the Fed does next. A softer print probably keeps the cut trade alive. Hotter than expected and things could get ugly pretty fast. Not sure I want to make a big move before the print though.