A Higher Low

CPI Day

The Market:

The market gapped down on the CPI news this morning, but quickly founds its footing and closed just about flat on the day giving the Nasdaq a second higher low. Commodity prices continue to sell off signaling that the market maybe be pricing in slowing inflation soon. However, the net new lows continued expanding showing the weakness under the surface and bringing the streak to 23 days in a row of net new lows.

Leaders:

While the market gapped down and quickly recovered the leaders were the first ones to turn green. CELH, HALO, JKS, MDB, LNTH, LI were all notable.

Actionable Ideas:

HALO - Failed Breakout Pullback - $47.15ish

PRVA - Mini Coil - $33.94

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