Spy is literally Down 4 % and you can feel the nervousness of all the talking heads on cnbc and others who follow markets. It's absolutely hilarious and amazing that a simple 4% pullback has so many people on edge. I actually love watching this unfold....a 4% drop and people are literally scared out of their minds of what's going to happen next with geopolitical fallouts, rising inflation, no rate cuts, earnings coming in full force, oil and other commodities rising, 34 trillion in owed debts and a fed that promised you rate cuts and so far haven't delivered. Oh and let's not forget about the ai hype that keeps going amd going amd going. That alone is the contribution to over 3/4 of this rally the last year.....anyways remember a 20% pull back on the spy, which would put it into a bear market, would only place the market back to 4th quarter of 2023 lows. Not 3 yr lows or 5 or 7 or a decade. We are talking lows not seen since October of 2023, so if you are freightened by a 4% inkling of a drop just wait for the next drop to unfold...can't wait for cnbc and their breaking news updates on every 1/2 % drop....and I sure can't wait for the spy to drop straight below 4000!!! That's when you'll see your emergency rate cuts you all want....thats when Powell will come out and bow to wallstreet and cut rates below 4% to get wallstreet and equities back to historical highs.....grateful to see complacency wearing thin and fear back in the markers.....
