Markets gap up just a bit but quickly start a pullback to begin the day. Biggest news of the day is the PPI (Producer Price Index) coming in higher than expected, basically signaling that it got more expensive last month for manufacturers/business to produce goods. This of course contrasts yesterday's CPI (Consumer Price Index) coming in better than expected. So we have one measure investors believe is leading to inflation, and one measure showing the opposite. This is why as traders we do not put too much weight into reports because it is impossible to know true market sentiment from them, we MUST look at the charts to determine market sentiment..
Bitcoin pulling back a bit as expected, we hopefully will not see it go below 43k, 42 at the very very most.
Some trades being watched today (not a ton out there yet though) are COLD, WSM, and AAPL.
