The May CPI report out Tuesday showed price increases continue to moderate, likely securing a pause in the Federal Reserve's rate hiking campaign that has pushed interest rates to the highest level since 2007.
Honestly, the whole market feels grossly overbought right now. 🤔
Grossly overbought? Why do you say that? The average P/E is near the long-term average, although a few stocks are bringing it up.
SPY normally returns 15%ish and is up nearly that 6 months into the year. Things are overheated.
SPY is still down since Jan 2022. It’ll have to surpass that (and be rising quickly) before it feels too hot for me.