Consumer sentiment swooned to 59.4, the lowest level since August 2011. The preliminary read was 59.7.

Key Line:  More consumers mentioned reduced living standards due to rising inflation than any other time except during the two worst recessions in the past fifty years.

This issue that cuts across political lines. 

The market rally was tenuous before the report, but this knocked the air out and triggered some profit taking. Although, money is not really moving back to the sidelines per se, but it is moving to other niches of the market. 

It's been a  remarkable week, but there's still work to do before the all clear. Even then, there are enough unknowns to keep us on our toes and anxiety to get the better of those not prepared for both IQ and EQ.

Pray for peace and the people of Ukraine. Have a good weekend.