As of this writing on Wednesday afternoon the S&P 500 is at a new all time intra-day high. If someone were to just look at news headlines over the past few months this would be mind boggling that we are back to this point, but yet here we are again. The obvious question is 'where do we go from here?' I have 100% confidence in saying that I don't know, but I do take comfort in the fact that no on else does either. As with so many areas of life, often times this is a case of pick your opinion, bearish (down) or bullish (up) and then cherry pick your data to support your opinion, and if you're doing the 'hot take' game right don't ever change your mind! "I don't know" can be such a liberating phrase to use; and this week it has also come in very handy around our house with my 3 daughter's when they ask, "Mom & Dad, why isn't Halloween a holiday?"
Have a safe and Happy Halloween.
Andy