How Significant is this Breakout…

The Market Multiplier Index that we calculate and watch has broken through the Biden December 2024 high of 2.94, hitting 3.01 on the opening today. In a sense this is not surprising as we have been saying that the big money tied to MAGA believes totally that de-regulation more than offsets tariffs.

Of course, the markets are one thing, and the real economy is another thing. Four to six months from now we will have a better sense of the reality. In the meantime, we continue to say, why not ride the wave.