The latest big economic report came out in the form of retail data, and core month over month results were four times stronger than predicted.
Overall retail sales were +1{3da602ca2e5ba97d747a870ebcce8c95d74f6ad8c291505a4dfd45401c18df38} as opposed to the predicted +0.4{3da602ca2e5ba97d747a870ebcce8c95d74f6ad8c291505a4dfd45401c18df38}.
Proving, once again, there’s no limit to how much Americans will buy, no matter how much they’re in debt. The rapid elevator ride down by about 400 /ES points has almost completely disappeared by way of a two week escalator.
All assets are rocketing higher right now, with the Nikkei futures nearing an important resistance level, whose breakdown was when all the (brief) excitement began.
Retail Strength
