Noise vs. Reality 🌤️ The Morning Print

Good morning! 

Right now, there's tons of noise in the market.

Every red day has people convinced a new bear market is underway, and every green day has people calling for the S&P 500 to hit $8k by next week.

The reality?

Through all the back and forth, the S&P 500 has been trading in a 5% range.

Given the historic rally off the March lows, this digestion is perfectly reasonable.

Until that trading box breaks in either direction, there isn't much to do other than remain patient and let the market reveal its next move.

Whipsaws can be common during consolidation phases, and that's exactly what we've been experiencing.

I expect more of the same type of price action until a clear direction is chosen.