After the correction in some of the indices over the last two weeks, we saw more strength return to the market this week. Weakness, however, remains in Tech and $QQQ has broken its downward trend line but not yet confirmed an uptrend.
During this months FOMC the Fed stated that it sees stronger economy & higher inflation, but no rate hikes. There are signs the market is more comfortable with the 10-year yield, howwever, we are not out of the woods yet.
Some are concerned that the market is in the first stage of a crash. While further downside is not off the table, we feel that it's more likely the result of profit-taking combined uncertain retail traders adding to volatility.