2024-07-26 11:18:47 ET
Summary
- S&P 500 hits all-time high, but concerns of potential headwinds, recession, and market correction prompt caution.
- The Fed's history of being behind the curve raises doubts about rate cuts and potential impact on the economy.
- Warning signs from economically sensitive stocks and consumer spending suggest impending recession, prompting a cash-raising strategy.
The S&P 500 Index recently hit a new all-time high, and it is easy to be bullish now, but I think it makes sense to take some profits after a very significant rally in recent months. I see a number of potential headwinds coming towards the market and July is historically a positive month, which means it could make sense to take some chips off the table this month. After July, we will be rapidly approaching a seasonally less favorable time of the year for stocks, such as September and October....
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There Are Many Signs A Recession Is Coming