CPI, Rates and Oil Drive Risk-Off Intraday Volatility

Friday CPI remains the immediate macro catalyst as elevated Treasury yields, firm expectations for Fed tightening, crude above $100, and deteriorating near-term SPY conditions raise the risk of sharp index and sector rotation. Breakout-contraction commentary reinforces the need to watch for failed breaks, VIX confirmation, and headline-driven volatility, but supplies no actionable stock levels.