SPDR S&P 500 (SPY)

[gdl]

Verdict in: SPY will enter next up phase soon.

Connect the dots not the assumptions and expectations. Facts, only facts. Cumulative data is startling. After a sideways move for 18 months in both the market action and fundamentals we have turned the corner on one, Fundamentals.

I have pounded the message board for a LONG time that there will be 2 more rate hikes this year. Seems very likely now. Everything coming together. Pend up demand? You bet. Mall retailers dead? You bet.

There seems to be NO WAY we are in a secular bear and no way we move into one here. A correction and sharp pullbacks? Yup that's very possible. Longer term we are about to see the steepest BULL move of this whole run.

Mark this down folks. Waited for confirmation and just got it.

Small Business Confidence SHOT UP. April Retail Sales SHOT UP. Consumer Sentiment SHOT UP.

Result: Bond yields will rise from here. Dollar strengthen. Gold will slide back down. Stock market ???

We can certainly be having a decent corrective move here or within the next month or so. Not any longer than that. So far it looks like this move currently is it before another big rally leg occurs. Wish I had the answers.

The extreme negatives is investor fear. they have exited market over last year or so. Short sales at record highs. earnings dismal. Overseas drag. Energy drag.

With all this we managed to go nowhere for 18 months. Is this just the start of something bad or the end? With Fun-da-mentals showing the way it seems to be the end.

Without contradictory readings in the near future I would say we are on a strong recovery for the consumer. Too strong for the FED and the rate hike fears will eventually resurface. For good reason.