Well we got our blast-off, but I'll tell ya what though Stoney, next Q's earnings reports are gonna be horrible.
Don't underestimate the effects of fuel and housing on the consumer. Call it ahhh, 70% of the population. The vibe I get is it's just starting to sting, and by that I mean, reality for people that have continued to spend for the last 6 months, like they've spent for the last two years, is starting to set in.
The national average for gasoline is gonna be $5 here pretty quick if something doesn't change.
Housing costs are off the chart, and I don't see them dropping tbh, with or with rate hikes.
That's huge.
It's gonna hit home Stoney, you can bet on it.
Honestly, I think we're near another market top.
Plus or minus a few %.
We're heading south.
Maybe not today, or even this week, but by August.... way lower.
As I type:
Nasdaq>>> 11757
S&P....4031
It's time to sell the rip.