I wrote about the rapid shift in investor sentiment last week and now Barron's is out with a bullish cover. That's the kind of thing that makes me wonder if we're about to top out.
In addition, a big part of last week's rally in stocks was short covering, which was something you could see in the stock performance of some of the hated names. Now Goldman is out with some data that backs it up.
I've been bullish all year on the economy and I think that's still the play. What's starting to worry me is another round of central bank hiking. The RBA and BOC rate rises last week were a surprise and there's a real fear inflation will get stuck at 4-5%.
That sets up an extremely big week with US CPI Tuesday and the FOMC on Wednesday.
So we won't be going where the Barron's cover takes us, this week is up to Jerome Powell.
