SPDR S&P 500 (SPY)

[gdl]

GDP and Income and Outlays way up. .5 percent in spending and outlays. that tells me the so called recession is just not materializing. not only isn't it showing its ugly head the thought of more rate hikes is NOW on the markets mind, and rightly so.

So where are we in this secular bull market? Did we really turn into a ear? is that what the drop signaled? Me, I still attribute it to angst over external factors.

We shall know more in the coming weeks. The next big drop has to hold above the recent lows for this to be nothing more than a correction in the long bull run.

Hard to imagine we are entering a recession given the cumulative data so far.

What wave structure are we in? I hope we hit 2030 first before any directional change since that's the best opportunity to make money. there should be a decent drop no matter what wave structure we are in.