Stocks Up, Rates Up, Playing Rough

The action is pretty self-explanatory today, even though it may not make much sense as inflation stays high and The Fed probably will still have to hike next week. 

Stocks are much higher but so are rates, which is a divergence. And on the S&P 500 Index daily timeframe, updated below, we could easily be seeing a standard retracement to the channel breakdown. 

Other than that, LULU is a notable laggard. 

I am biding my time and looking for these wide price swings to resolve, with me of course still leaning lower.