Like wages I guess. it always goes up but does it mean we are better off? Always relative to buying power. Stocks can advance 50 percent in a 100 percent inflation but that isn't exactly a good thing. it's not the actual number that counts but its intrinsic value.
I wonder even why that statement was made since everyone was complaining or using as verification of a dire situation the fact that the market went nowhere for 2 years.
So which is it? Nowhere for 2 years or run-away market?
A pew percentage points higher than the resistance area set for the last 2 years is somehow construed to be way too high?
What ever happened to the domed house where we are doomed to crash and hard by now? The death cross? The consumer is dead?
My MACRO view is still intact and I hope my time line as well. This should be peaking By November thru January. I believe after that the BEARS will come out of hibernation and would be ravenous and loud. It should not however be the end of this long bull cycle however. But that's for another time when things become clearer.
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