The market remains mostly flat other than a few stocks pulling up the averages. The market will trade in a range until the economy really goes south. It’s inevitable. Government spending has not been curtailed and it will accelerate given the debt limit has been eliminated and Republicans are pussies. The Fed is no where near Taylor Rule interest rates. They can’t go there for fear of bank failures. We will see inflation continue and wages increases lagging inflation. It’s been 26 consecutive months of declining real wages. People are making up the difference via credit cards. Consumer debt is at an all-time high. Government debt is at an all-time high. Something is going to give. Then the market will bottom out. Any talk of a bull market ignores economic indicators, the worse being the inverted treasuries yield curve. The inversion was at near maximum two days ago.
Stagflation.