Negativity

Not positivity

Quick thoughts for today. It feels like the tone of market commentary has turned a bit more negative lately.

We had a really nice rally off the bottom but, without new all-time highs, which are a ways off, it won’t be smooth sailing on the way up forever. The question is, does this pullback stay relatively light or start something new?

I think the answer lies in the gravity of the economy. If we keep seeing tepid numbers, it becomes increasingly challenging to see where the positive catalysts are going to come from. When we were printing money it was easy but now it’s harder to see where the next big positive push is going to come from.