Buy SPY by May 7, 2026.

The Recession Narrative Doesn't Match the Data Yesterday's Challenger layoff numbers (108,435 for January, highest since 2009) sparked aggressive selling in premarket that carried into the session. The narrative: Fed is "behind the curve" and labor weakness is morphing into recession. But the broader data tells a different story. The Disconnect: PMI came in red hot at the start of this week. Atlanta Fed Nowcast is projecting GDP with a 5 handle this quarter. Most economic indicators aren't showing cracks …