Fast Money Blog- 1/14/23

On Thursday, January 12th we got some good news as the latest Consumer Price Index was released and showed that inflation is in a steady decline. The data reflected a 0.1% decrease year-over-year in inflation in the month of December. The last time prices were lower than the previous month was May 2020. 

The data also showed that prices continued to cool last month, slowing to 6.5%, from 7.1% in November.

My take is that the Federal Reserves’ efforts to slow the economy have had a positive effect. I suspect they will probably stop raising interest rates sometime in March, which will prompt a bullish market. 

This week the stock market took the CPI data in stride and remained neutral. However, The Home Depot, Inc. (HD), Lowe’s Companies, Inc. (LOW), Mastercard Incorporated (MA) and Visa, Inc. (V) stock are all in a strong retracement mode. 

Please check both the three and six month charts of the above mentioned stocks. 

I still anticipate a strong bull market at some point in 2023. 

As always, stay positive. The next bull market is just around the corner. 

Tyrone Jackson, The Wealthy Investor