The US Markets just closed out the week at ALL TIME Weekly Closing Highs (the Dow Jones and S&P). The Bears are out talking about unemployment ticking up and the yield curve inverting and Powell cutting rates. Well Mr. Jerome Powell has quite the decision to make in the coming weeks because that insurance rate cut is going to have to come on the back end of a YUGE JOBS Number. The jobs this morning came in RED HOT and the 50 point cut just went out the window. The 25 point cut is now on the ropes and will be a huge decision.
The perma bears just don’t understand this market and that is part of their problem. They can’t go both ways. You have to learn to go both ways! Long and strong baby! Do you go all in here? NO! You should have loaded up at the beginning up June!
I am looking for pullbacks to be bought until otherwise. The chase is on. You cannot be bearish unless you are under 2918 for starters.