Did Friday Mark A Top?

No NFPs Friday through shutdown, S&P 500 was driven by ISM data instead. Surge to new daily highs wasn‘t confirmed by Nasdaq doing the same, and this was resolved with selling almost till the closing bell.

Does it mean an important (local, perhaps more than local) top was reached Friday? I point your attention to the balance of economic data – ranging from recession to stagflation fears with heavy calling for Fed rate cuts … Midterms are coming and if you want the economy better than it is now a year down the road, then …


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