Equities bounced on Monday’s youngsters again unwisely buying the dip, having broken support Friday in most indexes (sell in May and go away til September). As I said a couple weeks ago, agreeing with legend Jeremy Grantham to sell short [buy TZA], I have never seen worse fundamental reasons for indices NOT to be holding above their bottom with these risks: high commodity prices [although oil dba/grains moderating temporarily], war, supply issues, inflation, and the Fed aggressively raising rates 0.50% and the 10 year yield at 2.97% and rising, killing the mortgage market and finally deflating real estate prices for the first time since 2008 from beyond ridiculous prices. Even the corporate house rental market king TCN broke support after 60 minutes story. Is it time to sell the home?
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