It’s CPI and PPI week, and traders seem to be waiting for the data before making investment decisions. While that’s happening, surprising action is brewing in meme stocks. Are traders getting tired of this indecisive stock market? CPI and PPI week is an important time in the stock market. Yet the trading frenzy that surfaced during the pandemic seems to be coming back, at least for a short while. It’s almost as if there’s a camp that doesn’t care about inflation data, earnings from big-box retailers Home Depot (HD) and Walmart (WMT), or April retail sales data. Until the data is released, the broader stock market may not move much. Volatility is still low even though the CBOE Volatility Index ($VIX) ticked higher today. Market breadth is leaning toward the bullish side. The daily chart of the S&P 500 ($SPX) shows that, even though the index was relatively flat today,…
