In January, the CPI increased by 7.5% over the same period last year, which was higher than the consensus expectation of 7.3%. The 7.5% increase is the largest increase in 40 years. The 10-year treasury bond yield has exceeded the 2% mark today. The CME Fed Watch tool shows a 100% chance of a rate hike in March and a 56% chance that the Fed may decide to raise rates by 0.5 to 0.75% at its March 16 meeting.
U.S. stocks opened sharply lower, but dip buying forces caused U.S. stocks to rebound to a small positive at one point. However, the continued weakness of the big tech stocks led to a failed rebound and is now trending down again. Since the Nasdaq has rebounded 10.8% from a low of 13095 to 14510 in the past three weeks, which is a bit excessive, coupled with the bad news of inflation this morning and influential earnings reports have already been out and lack of upside catalyst, it is likely the Nasdaq Composite will go down searching for bottom . The January low of 13095 is the first downside target. Nasdaq resistance is today's high at 14,510, followed by the 200-day moving average at 14,739. Support is the 20-day moving average at 14132 and then at 13095.
1月份CPI比去年同期增长7.5%并高于7.3%的综合预期，为40年来增长最多。10年国债回报率向上突破2%关口。 CME Fed Watch工具显示3月加息的几率是100%并且有56%机会联储会在3月16日的会议中决定加息0.5到0.75%。
美股开市大跌，但逢低买入势力推动美股反弹到曾经小幅上升。不过科技大股的持续弱势导至反弹失败，现在再度下跌。纳斯达克指数过去三个星期从低位13095到14510已经反弹了10.8%，有些过度，加上今早的通涨坏消息和重要财报已经报出而缺乏上升催化剂的情况下，纳指继续下跌探底的机会大。一月低位13095是下跌目标。纳指阻力是今天高位14510，然后是难过的200日均线水平14739。支撑是20日均线14132然后是13095。
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