A bounce in the early-portion of the week was aggressively-faded on Friday and focus now shifts to the next CPI report as a hawkish Fed continually reminds markets that they're not finished yet.
Sellers made a statement this week, printing a bearish engulf pattern after another highly-elevated CPI print, setting the stage for the September FOMC.
It was a brutal week for stocks with a glimmer of hope from Thursday evaporating on Friday. With a hawkish Fed in focus, equities remain in a vulnerable state.