Ananke Market Morning Teaser — Thu Oct 15

Morning data brought no relief: September PPI came in hot at 1.3% month over month — nearly triple what was expected — and retail sales beat at 0.8%, with gasoline doing most of the heavy lifting. That puts October Fed hike odds near one in three, with Chair Warsh speaking at 11:30 AM ET.

The AI unwind went global overnight, with Korea’s KOSPI sliding toward bear-market territory and the Nikkei down about 5%. Even TSMC’s record quarter — net profit up 69% — could not turn the chip group.

$SOXL$ is down another 10% in its eighth straight losing session, while $NVDA$ trades lower and CoreWeave sinks again as its bonds yield above 15%. The Dow holds a small gain near 51,870 on defensive rotation, but the Nasdaq is off 0.8%.

Ananke’s read is defensive: $SPY$ Trend holds its SHORT against a Strong Long Bias regime, the chip legs sit flat, and $USO$ Trend’s LONG keeps riding the energy bid with Brent near $104. Gold miners are worth watching too, with $GDX$ up 1.5% as bullion holds near $4,143.

What does the rest of today bring — and how do the models stand into the FOMC?

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