Did someone say my name?!?
My head is spinning. The yield curve thing is the most obvious indicator, right? And everyone is talking about it.
Gold seems to have topped (at least for time being). Commodities are coming down. Was the market bottom two-three weeks ago?
The only contrarian view that is obvious right now (yield curve inversion, notwithstanding) is that there was a giant hanging man candle on the SPY daily today ( and similar appearing candles three days running now). Suggests some steam letting out of this rally, but maybe it's just a pause before the next leg up?
Is SPX going to 5000? It certainly could, barring any bad news. Tom Lee and Fundstrat remain uber bullish. They were wrong about a V-shaped recovery in February but there also happened to be a war breaking out around that time.
The other thing…."the market always gives you a chance to get out". This bell always rings in my head.
So as I see it, this market continues to amaze. No easy money to be made like last 2 years.