The battle between the bulls and bears is intensifying this week as major earnings reports are released and the latest inflation news is digested.
The key isn’t the reports and the numbers that will be released, but rather the market’s reaction to them. The bulls have been persistent dip buyers recently and have been able to shrug off various negative headlines.
There hasn’t been much upside progress, but support is holding, and the bears have been incapable of producing sustained selling pressure.
However, the bulls just aren’t buying the argument. They may be convinced that inflation is under control and the Fed will likely start cutting rates later this year. If there is any economic slowing, it will be mild, and the Fed will address the problem quickly.
The battle lines are drawn, and the reaction to earnings this week will provide some insight into whether the concerns about economic growth are…
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