There's a bullish case on stocks that's not gained much traction yet. With another 4%-5% upside in the S & P 500 , the thesis would demand serious attention. It goes like this: "The market bottomed exactly three months ago in October, the most common month for bears to expire, just ahead of a midterm election, which history says ushers in the best year of the presidential cycle.
Whether a quirk or a result of current automated-trading dynamics that drive short-term "all-inclusive" buying bursts, the recent record argues for reserving judgment on a potential trend change. A Fed pause? Warren Pies, a cofounder and strategist at investment-analysis firm 3Fourteen Research, came into the year suggesting stocks could celebrate an imminent pause in the Fed's tightening efforts, in line with the typical pattern. "Historically, pauses are bullish.
NEW ALL TIME HIGH IN DOW THIS WEEK! S&P WILL FOLLOW. THE BIDEN ECONOMIC MIRACLE IS BEING UNLEASHED
Many times everyone gets bullish at resistance & we drop & vica versa. I don't think the current 6% inflation not increasing with a high fed rate & QT continuing is bullish at all but HF need buyers so I guess the narrative continues. 😉
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Source: Reuters - 🏆 2. / 97 Read more »