{"id":58117,"date":"2021-11-11T01:30:04","date_gmt":"2021-11-11T09:30:04","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=58117"},"modified":"2021-11-11T01:40:36","modified_gmt":"2021-11-11T09:40:36","slug":"rally-slammed-into-wall-of-inflation-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2021\/11\/11\/rally-slammed-into-wall-of-inflation-the-market-breadth\/","title":{"rendered":"The Rally Slammed Into A Wall of Inflation &#8211; The Market Breadth"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Stock Market Commentary<\/strong><\/h2>\n\n\n\n<p>And just like that, <a href=\"https:\/\/drduru.com\/onetwentytwo\/2021\/11\/06\/small-cap-breakout-pfizer-covid-anti-viral-boost-bullish-market-breadth\/\" target=\"_blank\" rel=\"noreferrer noopener\">the bullish expansion of market breadth<\/a> hit a wall&#8230;a wall of inflation. The October Consumer Price Index (CPI) for all urban consumers apparently surprised financial markets by soaring 0.9% from September and 6.2% over October, 2020. The chart below shows that both surges are at the high end of ranges in place since 1980. Moreover, these increases follow months of inflation creep. Suddenly, inflation looks very real and more than transitory. (The left vertical axis applies to the year-over-year change in the brownish line. The right vertical axis applies to the month-over-month change in the blue line).<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/fred.stlouisfed.org\/graph\/fredgraph.png?g=IMyz\"><img decoding=\"async\" src=\"https:\/\/fred.stlouisfed.org\/graph\/fredgraph.png?g=IMyz\" alt=\"\"\/><\/a><figcaption><strong><em>Source: U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items in U.S. City Average [CPIAUCSL], <a href=\"https:\/\/fred.stlouisfed.org\/series\/CPIAUCSL\" target=\"_blank\" rel=\"noreferrer noopener\">retrieved from FRED, Federal Reserve Bank of St. Louis<\/a> , November 11, 2021.<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<p>This report was serious enough to garner <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/11\/10\/statement-by-president-biden-on-todays-economic-news\/\" target=\"_blank\" rel=\"noreferrer noopener\">a quick response from President Biden<\/a> (was the script prepared in advance?): &#8220;&#8230;today\u2019s report shows an increase over last month. Inflation hurts Americans pocketbooks, and reversing this <strong>trend<\/strong> is a top priority for me.&#8221; The emphasis is mine. Unlike the Fed that keeps dismissing rising inflation as transitory, President Biden acknowledged that a trend is underway. A trend means rising now and expected to rise in the future &#8211; the very definition of inflation when applied to prices. Biden went on to detail his steps for fighting rising prices:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Address price gouging and market manipulation in markets for natural gas.<\/li><li>Pass and implement his Infrastructure Bill as a way to reduce bottlenecks in the supply chain.<\/li><li>Pass and implement his &#8220;Build Back Better&#8221; plan to help reduce the costs of childcare, elder care, and health care in general.<\/li><\/ul>\n\n\n\n<p>Unfortunately, the legislative path will not solve inflation issues anytime soon. Perhaps this reality explains the shout-out in the press release that caught most of my attention: &#8220;I want to reemphasize my commitment to the independence of the federal reserve to monitor inflation, and take steps necessary to combat it.&#8221; Upon first reading, I thought Biden implicitly gave the Fed a &#8220;green light&#8221; to get more aggressive in tightening monetary policy. After another reading, I think this statement was part of the elixir to try to instill anti-inflationary confidence in the American people. For the time-being, these reassurances did little to mollify financial markets. It was a wild day as traders and investors scrambled once again to recalibrate expectations for prices and monetary policy. By the close of trading, the current stock market rally looked like it slammed into a wall of inflation concerns.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The Stock Market Indices<\/strong><\/h3>\n\n\n\n<p>Weakness has reappeared for the S&amp;P 500 (SPY) in the form of a 2-day losing streak. The index last dropped 2 days in a row a month ago. The market now needs time to work out its feelings about the renewed threat of inflation and the implication for potential acceleration of monetary tightening.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/6z4WAj9v\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/6z4WAj9v\/\" alt=\"The S&amp;P 500 (SPY) broke out above its 50DMA and likely brought the bearish cycle to an end.\"\/><\/a><figcaption><strong><em>After rallying nearly untouched since mid-October, the <a href=\"https:\/\/www.tradingview.com\/x\/6z4WAj9v\/\" target=\"_blank\" rel=\"noreferrer noopener\">S&amp;P 500<\/a> (SPY) suddenly has a bout of notable weakness..<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<p>The NASDAQ (COMPQX) slammed into the wall of inflation more convincingly. The current 2-day loss puts the tech-laden index in immediate danger of testing the 20DMA uptrend. Based on my prior bullish read on the market, I bought a fresh set of QQQ call options. Writing this post has me rethinking that trade.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/CayYsIrN\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/CayYsIrN\/\" alt=\"The NASDAQ (COMPQX) gained 0.7% to end a week the strung together a series of all-time highs.\"\/><\/a><figcaption><strong><em>T<b>he <\/b><a href=\"https:\/\/www.tradingview.com\/x\/CayYsIrN\/\" target=\"_blank\" rel=\"noreferrer noopener\">NASDAQ<\/a><b> (COMPQX) <\/b>lost 1.7% and put an exclamation on the end of its recent rally.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<p><meta charset=\"utf-8\">The iShares Russell 2000 ETF (IWM) fell nearly straight down like the NASDAQ. Its 1.6% loss puts it in imminent danger of testing the former all-time high. That same level served as the top of 2021&#8217;s trading range. Like QQQ, I bought IWM call options into this pullback. If my new read on the stock market pans out, IWM will slice through support as quickly as it broke out above that threshold. Accordingly, I am not rushing to add to my position.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/Z7OvOPMB\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/Z7OvOPMB\/\" alt=\"\"\/><\/a><figcaption><strong><em>The <a href=\"https:\/\/www.tradingview.com\/x\/Z7OvOPMB\/\" target=\"_blank\" rel=\"noreferrer noopener\">iShares Russell 2000 ETF<\/a> (IWM) lost 1.6% and looks positioned to test support at the former all-time high and the top of the previous trading range.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<br><script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\n<ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-1196033822186410\" data-ad-slot=\"3478942445\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Stock Market Volatility<\/strong><\/h3>\n\n\n\n<p>The volatility index (VIX) started rising last week, but I barely registered any signal from it. Now the VIX is on a rare 5-day winning streak. Still, the faders may have already put an end to the rally by pushing back from the 20 level.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/3pDtmysx\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/3pDtmysx\/\" alt=\"A rounded bottom for the volatility index (VIX) could be setting up a major surge in the coming weeks.\"\/><\/a><figcaption><strong><em>The <a href=\"https:\/\/www.tradingview.com\/x\/3pDtmysx\/\" target=\"_blank\" rel=\"noreferrer noopener\">volatility index<\/a> (VIX) is on a rare winning streak now 5 days and running. At the intraday high, the VIX tapped the key 20 level before fading for a 5.4% gain on the day.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The Short-Term Trading Call While Facing a Wall of Inflation<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\" id=\"block-8746fb62-8c65-4cd8-aa26-5b377e48018f\"><li><strong>AT50<\/strong> (<a href=\"https:\/\/www.tradingview.com\/x\/3pDtmysx\/\" target=\"_blank\" rel=\"noreferrer noopener\">MMFI<\/a>) = 62.7% of stocks are trading above their respective 50-day moving averages<\/li><li><strong>AT200<\/strong> (<a href=\"https:\/\/www.tradingview.com\/x\/rMkjB4ok\/\" target=\"_blank\" rel=\"noreferrer noopener\">MMTH<\/a>) 54.7% of stocks are trading above their respective 200-day moving averages<\/li><li><strong>Short-term Trading Call<\/strong>: neutral<\/li><\/ul>\n\n\n\n<p>Just like that, I need to retreat from my (cautiously) bullish trading call. <a href=\"https:\/\/drduru.com\/onetwentytwo\/t2108-resource-page\/\">AT50 (MMFI)<\/a>, the percentage of stocks trading above their respective 50DMAs, fell from Monday&#8217;s peak at 68.3% and closed at 62.7%. Per my <a href=\"https:\/\/drduru.com\/onetwentytwo\/t2108-resource-page\/\">AT50 trading rules<\/a>, this reversal just under the overbought threshold of 71% is a bearish signal. However, I am not ready to flip bearish so quickly. The bullish momentum was strong going into this wall of inflation. So, I am conceding defeat by dropping down one notch to neutral. If the market turns on a dime, I will stay neutral to avoid whiplash in the trading call.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/WvXxQctT\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/WvXxQctT\/\" alt=\"\"\/><\/a><figcaption><strong><em><a href=\"https:\/\/www.tradingview.com\/x\/WvXxQctT\/\" target=\"_blank\" rel=\"noreferrer noopener\">AT50<\/a> (MMFI) ominously fell short of the overbought threshold of 71% and failed at resistance from the summer peak.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<p><meta charset=\"utf-8\">AT200 (MMTH), the percentage of stocks trading above their respective 200DMAs, is feeling the same pressure as AT50.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/6v7XjJ2s\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/6v7XjJ2s\/\" alt=\"\"\/><\/a><figcaption><strong><em><a href=\"https:\/\/www.tradingview.com\/x\/6v7XjJ2s\/\" target=\"_blank\" rel=\"noreferrer noopener\">AT200<\/a> (MMTH) remains in an uptrend although the momentum may be coming to an end for now.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Message from AUD\/JPY<\/strong><\/h2>\n\n\n\n<p>Ironically, the currency market was warning about trouble ahead. The Australian dollar versus the Japanese yen (AUD\/JPY) topped out in late October and tumbled into this week.Despite <a href=\"https:\/\/drduru.com\/onetwentytwo\/2019\/04\/13\/why-australian-dollar-japanese-yen-matter-for-stock-traders\/\">the importance of AUD\/JPY to gauging risk appetites<\/a>, I chose to discount the implications given all the other bullish signals from market breadth. Now I am watching the coming test of 50 and 200DMA support like a hawk.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/FW8bwyUs\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/FW8bwyUs\/\" alt=\"\"\/><\/a><figcaption><strong><em>The <a href=\"https:\/\/www.tradingview.com\/x\/FW8bwyUs\/\" target=\"_blank\" rel=\"noreferrer noopener\">Australian dollar versus the Japanese yen<\/a> (AUD\/JPY) is tumbling hard and has now reversed half its gain from October.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<p>I am also watching the U.S. dollar index (DXY) more closely. The greenback broke out to a 16-month high. The path here has been choppy, but, increasingly, it looks like the dollar is on an extended uptrend cycle. At some point, the stock market is going to complain bitterly about the stronger dollar. However, the path to tighter monetary policy should provide an ever more important tailwind to the dollar.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/qF4xCeVY\/\" alt=\"\"\/><figcaption><strong><em><a href=\"https:\/\/www.tradingview.com\/x\/qF4xCeVY\/\" target=\"_blank\" rel=\"noreferrer noopener\">The U.S. dollar index<\/a> (DXY) printed an important breakout that confirms the bottoming in 2021.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Stock Chart Reviews &#8211; Below the 50DMA<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Restaurant Brands International Inc<\/strong> (QSR)<\/h3>\n\n\n\n<p>I have been looking for an entry to return to Restaurant Brands International (QSR). QSR is part of <a href=\"https:\/\/drduru.com\/onetwentytwo\/2019\/08\/30\/how-to-invest-in-chicken-sandwiches\/\">the &#8220;chicken trade&#8221; with its Popeye&#8217;s Louisiana Kitchen franchise<\/a>. In bullish mode, I took a nibble on today&#8217;s confirmed pullback from 20DMA resistance. I am currently expecting the recent low to hold as support from the 2021 lows. However, QSR will hurt in the face of an inflation problem.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/pH3bMbJO\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/pH3bMbJO\/\" alt=\"\"\/><\/a><figcaption><strong><em><a href=\"https:\/\/www.tradingview.com\/x\/pH3bMbJO\/\" target=\"_blank\" rel=\"noreferrer noopener\">Restaurant Brands International Inc<\/a> (QSR) confirmed a failure at 20DMA resistance with a 0.7% loss.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Purple Innovation<\/strong> (PRPL)<\/h3>\n\n\n\n<p>Suddenly long-standing downtrends are providing meaningful earnings signals. Bedding company Purple Innovation (PRPL) is the latest of many notable stocks to suffer a massive post-earnings blow-up on the heels of very poor technicals. The 24.4% loss took PRPL to a 17-month low.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/uyGBTb2Q\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/uyGBTb2Q\/\" alt=\"\"\/><\/a><figcaption><strong><em><a href=\"https:\/\/www.tradingview.com\/x\/uyGBTb2Q\/\" target=\"_blank\" rel=\"noreferrer noopener\">Purple Innovation<\/a> (PRPL) plunged 24.4% post-earnings and closed at a 17-month low.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Stock Chart Reviews &#8211; Above the 50DMA<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">iShares 20+ Year Treasury Bond ETF (TLT)<\/h3>\n\n\n\n<p>I was early with a January put spread in iShares 20+ Year Treasury Bond ETF (TLT). However, the wall of inflation created a sudden change in trading in TLT. The ETF of long-term bonds lost 1.8% and all but confirmed a top at the resistance of the summer&#8217;s highs. TLT should provide first clues on how much the market really cares about inflation risks.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/9Bt50nMb\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/9Bt50nMb\/\" alt=\"\"\/><\/a><figcaption><a href=\"https:\/\/www.tradingview.com\/x\/9Bt50nMb\/\"><em><strong>The iShares 20+ Year Treasury Bond ETF<\/strong><\/em><\/a><strong><em> (TLT) dropped sharply in the wake of the latest wall of inflation.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>iShares Expanded Tech Software Sector ETF<\/strong> (IGV)<\/h3>\n\n\n\n<p>If inflation forces interest rates up, the proposition for very expensive tech stocks gets shaky &#8211; recall the &#8220;growth scare&#8221; in March when inflation fears were last salient. The <meta charset=\"utf-8\">iShares Expanded Tech Software Sector ETF (IGV) is full of expensive stocks with sky high valuations. Accordingly, IGV fell hard by 2.9%. A test of 50DMA support seems likely soon. A 50DMA breakdown could be an early warning for the rest of the market.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/LRGOxzt1\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/LRGOxzt1\/\" alt=\"\"\/><\/a><figcaption><strong><em>The <a href=\"https:\/\/www.tradingview.com\/x\/LRGOxzt1\/\" target=\"_blank\" rel=\"noreferrer noopener\">iShares Expanded Tech Software Sector ETF<\/a> (IGV) lost 2.9% and looks poised to test 50DMA support.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Tesla<\/strong> (TSLA)<\/h3>\n\n\n\n<p><meta charset=\"utf-8\">In an earlier <a href=\"https:\/\/drduru.com\/onetwentytwo\/2021\/11\/01\/small-caps-drove-bullish-expansion-of-market-breadth\/\">post<\/a>, I noted my concerns for the parabolic run-up in Tesla (TSLA). I was content to wait out the frenzy. Sure enough, TSLA provided yet one more example of he dangers of parabolic run-ups. The pullback was even more dramatic than the run-up. The 12.0% loss unfolded in the wake of Elon Musk announcing his desire to sell stock to cover taxes on stock options. A gap down the day before setup the tumble. Since such a flush reduced the odds of more deep selling (right away), I bought a calendar call spread. The subsequent 4.3% rebound in TSLA allowed me to take my targeted profit well ahead of schedule. Now I am waiting for the dust to settle and the technicals to demonstrate some stabilization.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.tradingview.com\/x\/AtaHeBgU\/\"><img decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/AtaHeBgU\/\" alt=\"\"\/><\/a><figcaption><strong><em><a href=\"https:\/\/www.tradingview.com\/x\/AtaHeBgU\/\" target=\"_blank\" rel=\"noreferrer noopener\">Tesla<\/a> (TSLA) rebounded 4.3% a day after plunging 12.0% in the wake of news of Elon Musk&#8217;s stock sale.<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<p>Be careful out there!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Footnotes<\/strong><\/h2>\n\n\n\n<p>&#8220;Above the 50&#8221; (AT50) uses the percentage of stocks trading above their respective 50-day moving averages (DMAs) to measure breadth in the stock market. Breadth defines the distribution of participation in a rally or sell-off. As a result, AT50 identifies extremes in market sentiment that are likely to reverse. Above the 50 is my alternative name for &#8220;MMFI&#8221; which is a symbol TradingView.com and other chart vendors use for this breadth indicator. Learn more about AT50 on my <a href=\"https:\/\/drduru.com\/onetwentytwo\/about\/t2108-resource-page\/\">Market Breadth Resource Page<\/a>. AT200, or MMTH, measures the percentage of stocks trading above their respective 200DMAs.<\/p>\n\n\n\n<p><strong><strong>Active AT50 (MMFI) periods<\/strong>:<\/strong> Day #396 over 21%, Day #59 over 31%, Day #31 over 41%, Day #11 over 51%, Day #8 over 60% (overperiod), Day #176 under 72% (underperiod)<\/p>\n\n\n\n<p>Source for charts unless otherwise noted: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>TradingView.com<\/strong><\/a><\/p>\n\n\n\n<p>Grammar checked by <a href=\"https:\/\/www.thesaurus.com\/grammarcoach\" target=\"_blank\" rel=\"noreferrer noopener\">Grammar Coach<\/a> from Thesaurus.com<\/p>\n\n\n\n<p><strong>Full disclosure: long TLT put spread, long QQQ calls, long IWM calls, long QSR<\/strong><\/p>\n\n\n\n<p><strong>FOLLOW Dr. Duru&#8217;s commentary on financial markets via <a href=\"https:\/\/stocktwits.com\/DrDuru\" target=\"_blank\" rel=\"noreferrer noopener\">StockTwits<\/a>, <a href=\"https:\/\/twitter.com\/DrDuru\" target=\"_blank\" rel=\"noreferrer noopener\">Twitter<\/a>, and even <a href=\"https:\/\/www.instagram.com\/drduru_market_breadth\/\" target=\"_blank\" rel=\"noreferrer noopener\">Instagram<\/a>!<\/strong><\/p>\n\n\n\n<p>*Charting notes: Stock prices are not adjusted for dividends. Candlestick charts use hollow bodies: open candles indicate a close higher than the open, filled candles indicate an open higher than the close.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stock Market Commentary And just like that, the bullish expansion of market breadth hit a wall&#8230;a wall of inflation. The October Consumer Price Index (CPI) for all urban consumers apparently surprised financial markets by soaring 0.9% from September and 6.2% over October, 2020. The chart below shows that both surges are at the high end &#8230; <a title=\"The Rally Slammed Into A Wall of Inflation &#8211; The Market Breadth\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2021\/11\/11\/rally-slammed-into-wall-of-inflation-the-market-breadth\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[456,1303,483,482,1054,220,59,2637,20,219,90,512,338,1311,511,62],"tags":[1820,2832,772,2049,299,2696,1242,2869,2936,2833,2750,2701,2700,1823,2253,1263,280,2303,887,1838],"class_list":["post-58117","post","type-post","status-publish","format-standard","hentry","category-bonds-2","category-bottom","category-breakdown","category-breakout","category-dining","category-earnings","category-economy","category-electric-vehicles","category-forex","category-high-tech","category-inflation","category-resistance","category-retail","category-software","category-support","category-technical-analysis","tag-at200","tag-at50","tag-audjpy","tag-dxy","tag-dxy0","tag-igv","tag-ishares-20-year-treasury-bond-etf","tag-ishares-expanded-tech-software-sector-etf-2","tag-joe-biden","tag-mmfi","tag-mmth","tag-prpl","tag-purple-innovation","tag-qsr","tag-restaurant-brands-international","tag-tesla","tag-tlt","tag-trading-call-change","tag-tsla","tag-u-s-dollar-index"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Rally Slammed Into A Wall of Inflation<\/title>\n<meta name=\"description\" content=\"Suddenly, inflation looks very real and more than transitory. 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