SPY Finally ready to sell?
Bulls have been laughing their way to the bank.
Recently saw a political/finance streamer talk about how "The SNP500 is looking strong, inflation is down, we had a soft landing, I think now is a good time to buy"
I get the feeling that is the general sentiment of the market, I think people have blinders on to the market risks. We saw some tech layoffs the past few weeks which is a little concerning. The market is very top heavy. Russel is still down 20% while the SNP is at new highs.
I am thinking we are going to see a sharp pullback and re-evaluation, perhaps Powell will throw some cold water on the market and say there is still work to do and that there will not be many rate cuts for 2024.
Tesla warning of a sales slowdown, is it all political or is it related to the general economic conditions?
We are definitely well overbought, the question is can we keep grinding higher or is all time highs as far as we go.
Maybe SPY to 500 was just a pipe dream.
Recently saw a political/finance streamer talk about how "The SNP500 is looking strong, inflation is down, we had a soft landing, I think now is a good time to buy"
I get the feeling that is the general sentiment of the market, I think people have blinders on to the market risks. We saw some tech layoffs the past few weeks which is a little concerning. The market is very top heavy. Russel is still down 20% while the SNP is at new highs.
I am thinking we are going to see a sharp pullback and re-evaluation, perhaps Powell will throw some cold water on the market and say there is still work to do and that there will not be many rate cuts for 2024.
Tesla warning of a sales slowdown, is it all political or is it related to the general economic conditions?
We are definitely well overbought, the question is can we keep grinding higher or is all time highs as far as we go.
Maybe SPY to 500 was just a pipe dream.
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