Let me preface this by saying I obviously don’t have a crystal ball, but there is absolutely no rational reason to be bullish other than the fact that people are desperate for even a whiff of positive news. If you stop focusing on what Trump is saying (e.g “Going to play nice with China, etc) and actually look at what he is doing-his actions, it is clear as day that the trade war with China is escalating and not just with Tariffs. Nothing has changed and the market is being pumped by hope right now. This is a dead cat bounce and we’re going to go lower, especially if and when these big tech companies start reporting negative earnings. But who knows, if a deal is made with China, and these tech earnings are positive, maybe the fed cuts rates, then maybe we have a turning point but I don’t see that as probable.
What do you guys think?