IMHO market looks forward. Like at least 6 months forward. We will see 1800 soon IMHO. Everyone expects 7% GDP on the 3rd Q. But with the recent guidance, the 1st Q 04 now is in question if we have sustainability. A high 3rd Q GDP was expected with all the free money from the Fed pump and the tax cuts. But those are now gone and the house of cards is coming down.
JMHO.
"When fascism comes to America, it will be wrapped in the flag and carrying a cross." - Sinclair Lewis
"Those Who Would Sacrifice Liberty for Security Deserve Neither." -Benjamin Franklin
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