Well, bulls, you can’t have your cake and eat it too. The “cake” is the blow-away results from the likes of META and AMZN which are causing prices to go into nosebleed territory. The “eat it” is the jobs report, which came in white hot and is the LAST thing the Fed wants to see if they plan to cut rates.
Amazingly, this data point completely erased the orgy of buying that took place after yesterday afternoon’s tech earnings.
The Russell, which is my main position, has tumbled into the red.
Gold got nuked.
And bonds, naturally, fell hard too.
Let’s just say I welcome this news and look forward to an exciting day ahead.
