Cathie Wood Dismisses Inflation Concerns Despite Rising CPI
- Inflation Data Analysis: Despite the U.S. CPI rising to 4.2% in May, Cathie Wood argues that underlying inflation is close to 0.5%, indicating that price pressures may be easing, which could influence the Fed's monetary policy decisions.
- Productivity Gains: Wood highlights that U.S. productivity increased by approximately 3% year-over-year in Q1, while hourly compensation rose about 3.5%, suggesting that unit labor costs reflect an annual inflation rate of only 0.5%, indicating minimal cost-driven inflation for businesses.
- Alternative Inflation Metrics: She cites Truflation data, noting that its real-time inflation gauge has dropped from around 11% in 2022 to 1.8%, with core inflation declining to 1.4%, contrasting sharply with official statistics and suggesting that the market may be underestimating signals of easing inflation.
- Future Outlook: Wood expects that if inflation falls to between 0% and 1%, the Fed may shift its focus towards supporting economic growth rather than maintaining restrictive monetary policy, which contrasts with current market expectations for further rate hikes.
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Technical Analysis for BASED
Technical Sentiment Analysis for Based (BASED). As of , Based (BASED) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 4 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BASED stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BASED is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Based (BASED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0355 | 0.0546 | 0.072 | 0.0911 | 0.108 | 0.128 | 0.145 |
| Fibonacci | 0.0546 | 0.0685 | 0.0771 | 0.0911 | 0.105 | 0.114 | 0.128 |
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