Speculation is so not Cool now …

I anticipate that with the GDP report this week and the employment report tomorrow, along with weak consumer sentiment, that we are entering a 90 day period of digestion of a weak economy.

We have seen the panic selling period, the bounce, now the look back in the mirror buying of Tech – AI stuff.

Now the period of gagging and vomiting in the streets as the bad food takes hold. Probably a “W” type of macro bottom, no meaningful new lows but no new highs either.

The FED is going to watch. The last thing they want to do is incite a speculative wave. This week we saw a mini-version of that kind of behavior.