4th Straight Winning Weeks + ATH (Patreon)

$SPX Index closed this week giving it 4th straight winning weeks, since the April doom and gloom drawdown and index closed the week above prior ATHs. This rally since late April/early May primarily driven by "good news" on labor market softening and showing cracks, in line CPI reading this week shows that inflation is leveling off. All very positive news that fed swap shows potentially 2-3 rate hikes starting in September 2024 all the while most of the fed speakers this week showed little less optimism compared to market participants.

Next week, fed speakers out in full force and FOMC minutes will be the highlight news data for the week. Expecting a flat week as market could take time to consolidate after 4 winning weeks. Time to be patient IMO.