E-Wave for the S&P 500 Index

[RCKS]

The Market is still believing that the Fed will cut rates 3 times this year and I think the Fed is about to disappoint the Market. I say this partly due to this being a Presidential election year in that I believe they will try to stay out of the way until after the election is over for the most part.

If I'm correct about their likely path, there could be one cut this summer but that would be it until after the election and that would give us 2 cuts this year and not 3. One cut in June and one cut in Dec.
I think we are about to get a pause in the Market but I kind of doubt its a big sell off, more likely we will trade sideways into the June Fed Meeting.