Jim Kramer here to share with you a sample of my take on the market from today's

CNBC Investing Club warning meeting.

Jeff, I felt that yesterday's sell-off was a needed sell-off. You never want one.

Any bounce back today is going to have to be affiliated with companies that are doing better than expected

because yesterday was all about the

bonds.

Yeah, and that, of course, came after CPI was a little bit hotter than expected, mostly driven

by an increase in rents, which has been the one stubborn part of inflation for quite some

time.

But I don't really think it kind of ends this the soft landing thesis.

I think it's just one hot data point, plenty of time too.

There was a delay in now of when the Fed is expected to cut rates.

June is now the betting favorite.

Now I will say for those of you who have taken advantage of avail themselves of the oscillator,

which you know I think is terrific, and we've got a great deal with market edge the oscillator.

We're not overbought. Have we been really overbought yesterday, I think the decline would have been more significant.

The fact is, is that the last half hour brought a very big rally and we're doing a carryover from that

rally because interest rates are tame today. Now, does that mean the things have bottom? It is a long day.

But I will point out that I liked almost every single quarter that was just reported except for

Kraft Times, which was just awful. Yeah. I mean, you do have some upcoming tests too in the market.

PPI Friday, of course, is going to get a lot of attention now, given what happened yesterday.

But at the same time, you do have Fed President Austin Goulsby.

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