Another higher core PCE... Inflation is clearly on the rise.
Aren't you amazed that , for the last 5 years, inflation pattern has been a carbon copy of 70s?

With massive gov layoffs , unemployment will follow the same trend while GDP is already collapsing.

So who told you years ago that 70's stagflation has similarities with 20s?

Who told you years ago that Gold went x5 in 70s and Gold will follow the similar pattern in 20s ?

Who told you at the market top that "Remember this term: Trump top" while entire world was hopping for a Trump 2.0 rally?

If we are going to continue to follow the same patterns, SPX will drop 40% to 60% by the time this is over but make no mistake, it is not going to be a straight line. Huge bear market rallies followed by ungodly levels of oversold condition will be the norm.

I am still bearish for this leg and expect a multiweek swing low way below March low no shit Sherlock

MICHIGAN LONG-TERM INFLATION EXPECTATIONS HIT 32-YEAR HIGH

MICHIGAN 5-10 YEAR EXPECTED INFLATION AT 4.1% VS PRELIM. 3.9%

MICHIGAN 1-YEAR EXPECTED INFLATION AT 5% VS PRELIM 4.9%