Today we received a bullish June CPI reading that came in better than expected. This is the lowest reading since January. Altcoins and small caps are two assets that don’t perform well in a high interest rate environment. After today’s low June CPI reading IWM had a very bullish spike and could start to trend up soon. Similarly, Altcoins are starting to rebound as well. I think Altcoins and small caps could rally as we approach the Fed pivot, both are undervalued and tend to perform better in a lower interest rate environment. IWM spiked up after June CPI came in better than expected. IWM is back in the red zone, and needs to break above $210.44 to start a rally for small cap stocks.
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