Hello, I'm Johnny Cash

the CPI comes in a little hot

Because, Walk the Line, right? Right? Sheesh. Let's move on.

Anyway, the CPI came in right where they predicted for Y/Y and M/M, but the core CPI came in hot at 0.3 instead of 0.2. That's all it took for folks to lose hope of a 50 bps cut in a week, and thus equities are red right now (although not by that much). The important part is that the resistance…