“I observed in early July that SPX 6,469, which is 10% above the 2024 close, could be a level from which a pivot lower or a pause could occur. An SPX pause at 6,469 is what we have seen to this point…multiple headline risks that might be causing would-be buyers to stop and assess with the SPX 10% above its 2024 close. The headline risks include: poor historical seasonality, tariff uncertainty, questions with respect to Fed policy/lack of independence as inflation and growth concerns surface, and geopolitica ...

The Dow crossed 46,000 for the first time ever as rate-cut hopes mount. Plus, IPO mania returns. ...