May. 23 at 3:06 PM
$SPY Bears are too early to short the market.Heres why-
They have to look for
Job layoffs= Credit defaults, then the market crashes and finally housing crashes.
We have not see credit defaults yet and probably won’t anytime this year. My guess is toward end of quarter 4 do we start seeing layoffs in several sectors.
The new norm is house poor live pay check to paycheck. People are fine with it.
Banks love high rate environment and are giving credit to anyone who wants to pay 28% on a car note. Credit card companies are raising credit limits. My credit cards have a credit limit of well over 30k.
I remember when 5k was the credit card balence norm.
Until there’s a mass credit default in credit cards and car notes, the market will continue to set new highs.
Bears have the right thought, but too early at the recession party.
I don’t even think
$6/gas will crash everything, again it’s cuz of the mass amount of credit available.
$C $AMC $HD $DG
