Country can't decide whether to double down on massive deficit spending. Can't decide about tax increases. Can't decide whether even to continue to support majority voting.
And now the S&P 500 is flirting with support at the 50-day MA, while if you read @hussmanjp we are more overvalued with bleaker forward expected returns than at any time including 1929. And market internals are deteriorating, while we now learn that the Fed presidents were trading in the securities the Fed was buying. Talk about a "Fed put"! And with all this easy money floating around, inflation is proving a bit less transitory than the pollyannas were hoping.
Maybe the market shrugs it all off and continues to soar higher. But I am liking cash. I might generate a bit more of it next week.
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