Alternative Path

[gdl]

Get this, the street interpreted Powell to indicate a shift in policy is here. this after Powell reiterated THERE IS A LONG WAY TO GO before inflation is tamed. I see stronger than expected economic data with productivity PLUNGING and Costs exploding this last quarter. Sure sounds like a great earnings future to me. As for BANKS well I do believe I was a bit mystified shaking my head that a trillion dollar debacle exposed a few weeks ago was all there was. Man are people stupid. It will actually get a whole lot worse even if fed rates stay where they are for the next 3 months. Immediate emergency relief is needed but the FED can't accommodate. TRAIN WRECK DEAD AHEAD!

As for the Debt Limit the street will assume for a little while anyway that it is posturing and will get done the last minute. Tick... tick.... Not going to happen (IMO).

So far the market assumes a normal retrace from last wave up and a MAY month weakness. How we get done with MAY without crashing is my dilemma.