With more big-tech earnings, the Fed meeting, and the S&P and Nasdaq at key support levels...next week is going to be a critical one for the stock market.
If interest rates decline in a meaningful way, it will indicate a significant slowdown in the economy, NOT lower inflation. THAT will be negative for stocks.
Earnings forecasts need to improve dramatically to justify this rally in the stock market. We're sorry, but you need better than 8% earnings growth if the S&P is trading at 23x forward earnings.
There are quite a few issues that are percolating around the world today…and any one of them could cause a significant disruption in the marketplace. (God help us if more than one blows up at the same time.)