FAST FIVE: Bulls Are Walking A Tight Rope Here
After all, in this climate, all it would take is for President Trump to tweet “tariffs delayed” and you have a rip your face off relief rally.
We're currently in the middle of another smaller correction greatly aided by buybacks and consumer confidence still high.
But forget yields and yield curve inversions for a moment.
With all the global uncertainty it's hard to imagine companies committing to large scale hiring programs, but so far jobs are hanging in there and that's a piece of comfort for bulls.
The same message sent by transports as they sport a potential topping pattern that could target the December lows: Nothing's confirmed broken yet and markets are becoming oversold.