The year-over-year CPI figure is simply missing this time because prices weren’t collected during last year’s shutdown. Most people are looking to this report for direction, but I wouldn’t rush to trust the number. After doing this for so long, I’ve learned that managing your position is always more important than calling the direction—and when the data has holes, you need to leave yourself even more room to maneuver. So what’s the takeaway? I haven’t figured it out yet either. If you’re watching, keep an eye on #CPI