Last updated on May 3, 2023
This should be a good day in the market. Janet Yellen made comments yesterday that we don’t have a recession in times like this! This should give some confidence to the market. Although this could be tampered by the State of the Union this evening. Regardless, there are starting to be more bullish tones in the press now. Typically, the market does start to rally and has the best buying opportunity when everyone is so negative like in the past 6-12 months. We are starting to see some green shoots. The tree will start to grow.
Googles announcement was also a great sign. Competition and innovation are always good for the market. Googles CEO Pichai giving the employees notice “All hands on deck” to fight the threat of ChatGPT is not the cost cutting message that we have been hearing lately. It is a message to get to work and let’s create something. I would suspect more of the same from other companies. At some point, we will begin to rebuild. If you want to be competitive, you must grow and evolve. This could just be the tipping point to this market to turn around.
Let’s look at what we have…the jobs numbers were astoundingly good. The bond market is telling the Fed it thinks the rate hikes are done. Inflation seems to be coming under control. The charts are telling a different story. Let’s see where this market is going but in the long run, it is always better to be invested. We really think this is the time to be buying. Load up the truck.
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