The shift toward higher-for-longer monetary policy has contributed to recent selling pressure in an overbought equity market.
Confidence for a relatively shallow drawdown is supported by broad market breadth, cyclical leadership trends and economic resiliency.
The recent rally in gold does not appear to be just another flash in the pan.
After a brief lull in 2023, buyback activity appears to be back this year.
Market breadth will need to expand for the recovery to continue.
Oil has entered a new uptrend after finally breaking out from nearly a year-long bottom formation.
Historically, core bonds, as proxied by the Bloomberg Aggregate Bond Index, have performed well during Fed rate hike pauses.
Time is running out for Congress to raise the debt ceiling.
This historical seasonal pattern has started to lose some of its street cred recently.
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