5/09 Indices, page-356

The only thing that could keep this rally going over the next 1-2 weeks is a much softer CPI print. But even a low 7% print will not stop the Fed. They have messed up many times and gone back on their word, but i believe them this time when they say they're not stopping until the job is done. Any credibility they had left would be completely gone if they pivot too soon and then inflation stays sticky or worse yet starts moving up again.

Fed funds rate to at least 4%. Personally i think they'll need to get closer to 5%.

Big week ahead...