August 25, 2021
Good morning,
Did you see that? On Monday the morning note had a hint of a cautionary tone, and later that day the S&P 500 put up another new high, and then another again yesterday! This bull does not suffer fools.
Undeterred and moving on – market action overnight has been mixed and quiet. It could be that investors who are still around this third week of August are all waiting for the end of week Jackson Hole speech from Fed Chair Powell.
Although markets seem to be downplaying expectations for any tapering signals coming out of Friday’s symposium ending speech.
Be well,
Mike