A mild inflation

Unemployment and inflation are typically added together to come up with a so-called "Misery Index."
No inflation if you don't eat or drive.
Nondurable goods, such as food and gasoline, makes up only 12% of CPI.
Tracking the Dow on Wednesday,14/05/08.

9:30am--Opening

A higher start thanks to the tamer than expected inflation reading. Crude oil is trading down 0.3% to $125.40 per barrel ahead of the government's weekly energy report.Gap-up=40.0 points.
10:30--1st Hour
No sign of pullback to fill the gap.Seems to be aiming higher.The main candlestick is a long white bar so shorting the market is very high risk here.To buy long position is also difficult to ascertain.The 2 hammer or hangman side by side is also a warning.
11:30--2nd Hour.
It's still distributing above the MAV.Anytime there might be a towering inferno.
12:30pm--Final Morning session.
Again those graveyard dojis hanging along the path.The zhombies might be appearing.
1:30pm--The start of 2nd session.
This is the most sensitive time of the Dow.Any major economic announcement happens here. Retailers (+1.8%) are showing strength, with better-than-expected earnings at Macy's acting as the underlying catalyst. Macy's reported a quarterly profit of two cents per share, while analysts expected a loss of two cents.
2:30pm--The decision time.
A shooting star appears here.Looks dangerous as the chart is turning.
3:30pm--Injury Time.
Another graveyard doji.Difficult to take any position today with all the bull traps.
4:00pm--The Closing Bell.
It touches the 52 weeks MAV with a small dragonfly doji again.
Wall Street advanced Wednesday after a better-than-expected report on consumer prices tempered some of the market's concerns about inflation.The inverted hammer with a long upper shadow waiting to be filled again.Come Friday,it's the 3rd Friday of the month.Index & options expiry.