I agree with all these fundamental arguments.
But you know what?
The market is always right.
So if it goes higher and you follow the market long and make money.
Who cares what the market was "supposed" to do.
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$SPX is back to where it was in September 2021 when the Fed's balance sheet was expanding at $120B/month, earnings were growing, the Fed funds rate was at 0%, the 2 yr was at 0.3%
Now earnings are slowing, the balance sheet is contracting & the 2 yr is at 3.2% & EFF at 2.25%.
