Bust to Boom, Boom to Bust

Forget "Sell in May and Go Away." June brought some serious Stock Market strength. This rip-roaring rally sure caught us by surprise. The yield curve has been inverted for over a year, amongst the widest levels in history. The aggressive Fed tightening, the slowing Economy, simmering geopolitical tensions, not even the serious risk of an American debt default has tamed this Bull. Or is this another one of those violent Bear Market rallies? One never knows until it's over. It's important to remember that some of the most powerful rallies come in the Bear variety. Usually, it pays to not fight the Fed. In this case, it hasn't paid to be diversified and it hasn't paid to fight the tape. This stretch has been incredibly confusing.