Lighter inflation was "supposed" to help the bull case.

But the market did not respond well to two cool inflation reports in two days. (CPI yesterday, and PPI today)

When the market can't rally on good news, we have to be extra careful. Even small caps, which should outperform on positive inflation news, aren't getting traction.

Now the SPY is dangerously close to this week's low of $552, which says a lot about the mood out there.

And it just continues the treacherous recent action.

Not long ago, traders were focused on a more pro-growth economic environment.

The mood has shifted and people are more worried about a slowdown or even a recession.

I joked the other day that the Plunge Protection Team can't do anything to stop DOGE.

There are only two sectors positive for March - natural gas and gold.

So if you're wondering why I've been sending fewer ideas -- this is it.

The odds d0n't favor aggression.

80% of S&P 500 stocks are down in March.

And the average name is down 20% from its 52-week high.

In fact, yesterday afternoon, I started considering adding DoorDash (DASH) back to Power Plays, and it's a good thing I didn't because it dropped like a rock today.

I'm not going to just fire off new Power Plays for the sake of it.

When it's time to get aggressive, I'll tell you.

In the meantime, I'll do my best to keep you out of trouble.

But... if you are really eager to put something to work, I'll repeat something I told you Tuesday: Alibaba (BABA) is our lone Power Play, and it still looks fantastic since China is so strong.

-Scott