SYA Daily Report, page-177

Even CPI can't move the market - what will?
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Yes SYA lost half cent to finish at 19c. Our volume was low, just over 30m shares traded. Again nothing worthwhile, just doing the motions at this stage.
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ASX Li stocks were generally flat though made a small gain. Of the 73 stocks that I track, average gain was 1%.
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Overnight US Li stocks were weak and lost an average of 1%, though the ETF of LIT lost around 2%.
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What next:
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Yesterday I had said that even if CPI data is good or bad, markets may not move much, under 1%. SP 500 even though got a good CPI number and rallied, it later went down on some talks about recession, finishing at 4091 - around 0.4% down. ASX too was down, slightly less, around 0.3%.
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Yesterday I had alluded to that CPI data may not give the shift the market is looking for, and somehow it played out that way. Now what? PPI data tonight, but again it may not help. Next is Earnings Report. The bears are patiently waiting for that, thinking that will give them the boost. But after yesterday's very good CPI data not able to move markets up in a significant way has given the edge to the bears, for now. Many feel that they may try to seize the opportunity and push it down.
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SP 500 is playing bound range between some small numbers. At this stage down immediate 4070/4080 and up is 4130/4140. For close to two weeks it is just here. Yesterday it reached 4134 but could not break upper range. It has touched 4070s few times and rebounded. So really in an indecisive state.
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From chart perspective it is even, but yesterday's fail has given some bearish reversal conditions, especially on market leading index Nasdaq.
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Lead indicators are also not providing any direction - small movements on VIX, Yields and Dollar Index.
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Its been a very tedious couple of months. Indices playing within few percentages and stocks around 10-15% (except some that have news). So nothing much happening and certainly nothing much to trade - even short-term or swings. For long term hold, there is still the uncertainity of recession and the big fall to 3250 (/-) figure on SP 500 which many have been calling for months. So it makes that also uncertain. Best is to wait for market direction and follow price action.
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So what will happen tonight? US Futures in slight green. Asian markets generally red. Bitcoin making merry and above 30k. PPI and some Earnings Report tonight. It is now very unpredictable and best is to wait and see which direction market wants to go. It would be good for SP 500 to hold the 4100 level which has been a critical number in last one year. Will that happen? Lets hope so. All the best.