the only hope longs have is rate cut hype. Most don't expect it. Cut is only premised on employment data, and remember, unemployment is still very low- 4.3%, just off the all-time low of 3.9%. The fed is not in a rush.
There won't be a rate cut but CNBC will mention it all day, everyday next week. They love to get people's hopes up only to be crushed. Maybe Wayne Angell will come out next week to share some of his brilliance with us.
Earnings season is going to be dismal and will give everybody a dose of reality. There are still a few people out there calling for a second half turnaround. It isn't getting any better no matter what those paid shills say. Some people never learn.
CNBC will mention rate cuts but they don't want them as they have and still are promoting a down market. I think over the last several weeks the public and those that watch that show realize 95% of their employees and guests don't really understand markets. The Bull Market has begun and CNBC has missed the call, as they did the decline in NASDAQ.