Not rip roaring but a rally is a rally, DOW is down but SPX & NQ are up, record highs, and the FED & TRUMP PUTS are fueling the market.
Of course, there is a TOP head, could be over SPX 3100, but we are entering the final week or two or this leg up.
RUT finally got energized and is now green for July and BANKS are joining in the party.
And, finally, we may get that single-digit VIX -- that's a sure sign we are near the TOP.
BIG BIG earnings day tomorrow, and Friday is GDP day, leading into FED next week.
Unless there is a huge geopolitical event, I expect the market to grind higher into next week, maybe a final spike up and then DOWN.
I had one of my best NQ trading 3-day periods this week, hope we can get some big tech earnings to finish this week and I can add to my meager QQQ Oct PUTS.
I agree with Gundlach but that is down the road, trade the rally until we get there
Gundlach: Fed Will Be In "Panic Mode" When A Recession Hits
Authored by Robert Huebscher of Advisor Perspectives
If the signs of a recession, like weakness in trucking volume and manufacturing PMIs, prove true, the Fed will be in panic mode, according to Jeffrey Gundlach. The economy will weaken, rates will go up and the Fed will have to “do something,” to protect against a “spiral” of higher rates feeding and slower growth.
Gundlach is the founder and chief investment officer of Los Angeles-based DoubleLine Capital. He spoke to investors via a conference call at 4:15pm on July 23. The focus of his talk was DoubleLine’s fixed-income closed-end funds, DBL and DSL.
Gundlach devoted most of the call to the positioning of DBL and DSL. I will focus on the last 15 minutes of the call, when he took questions from the attendees, with the focus on a possible recession and the direction of interest rates.
https://www.zerohedg...-recession-hits