Yesterdays inflation numbers helped lift the Nasdaq to yet another all time record high. The move was short lived, as prices rolled over and finished the session near the lows of the day.
Did Yellen get out just at the right time? Hindsight is always 20/20, but clearly the market is saying it's romance with Yellen was more than QE deep. Sunday night stock futures were roaring to fresh record highs, this morning the market is crumbling with DOW futures down over 200 points. Of course 200 points in 2018 terms is not as ugly as 200 points in 2009, but its still something we haven't seen often over the last two years.