…..Stocks trade in very narrow range. CPI at 2.1%; the rent’s too high. The Fed talks rate increase. Beige Book optimism. BIS says QE doesn’t help Main Street – duh. HSBC, Paris. JPMorgan targeted minorities and women – 2 suits. American Airlines launches Sub-Cattle Class. Essilor buys Luxottica. Target misses. Navient bad news for student loans. Bookies on the inaugural speech. 2016 the hottest year ever, again. Financial Review by Sinclair Noe for 01-18-20017 DOW – 22 = 19,804 SPX + 4 = 2271 NAS + 16 = 5555 RUT + 6 = 1358 10 Y + .06 = 2.39% OIL – 1.09 = 51.39 GOLD – 12.70 = 1205.00   The Dow Industrials spent most of the day in slightly negative territory. The S&P 500 traded in a tight range between negative and positive. If it seems like the stock market’s crawl to nowhere over the past month has been particularly strange, that’s because it has been. It turns out the gap between the Dow’s high and low prices over the past month is a tiny 1.4 percent — the narrowest gap in data going back to 1957. On December 13, the Dow crossed 19,900 and pushed toward 20,000 – getting within a fraction of a point, then falling to a low of 19719, or a 1.4 percent range. So, something has to give – the question is whether we will see a break out or a break down. The long-term trend is still higher, but we really have ...