May 31, 2022
On today’s Episode, Phil discusses if the recent market movement is a Bull trap or a legit Turnaround. Equity markets closed before the holiday weekend with one of their best weeks since November of 2020. The question now begs, is this a classic bull trap as equities have been pummeled with almost half the year behind us now? Phil discusses one of the most important reasons supporting a legit turnaround; a strong labor market. Lower income workers are able to switch jobs and earn higher salaries. We are still not out of the woods yet as much more action of the Fed is on the horizon. However, it would be a welcome sign to see some momentum build in the following weeks as summer approaches.