Where to ?

Some things are slowly falling in place. Looking at some patterns from the past on our Multiplier Index, what I see this week is much like what I saw back on May 15, 2024. That was a time when the Multiplier Index had a breakout into what was around a 17 percent run up on the S&P, basically 5300 to 6150, seven months later. At the moment that is my best guess on where we are.

The Bond market continues its rise out of the bottom, that doesn’t hurt. The Dollar seems to be headed to low 80’s but could see a bounce out of current level first.

Of course, keep in mind this is a Big Money AI based whore’s rally, the basic economy is not that exciting. So, this will be a grind, ups and downs, no clear euphoria but long-term trend should hang in there. We probably are not seeing much tariff based inflation yet because they really have not been adopted to any degree.