Submitted by Valkorian09 t3_10sbtd5 in wallstreetbets
This January spy has gone up 9%+, stocks that have no reason to go up have gone up (tesla for example). The market has ZERO reason to rally, rates are 4.5%, (we're gonna get to 5%+) no cuts until 2024, earnings are not great (as we saw this today and last week), and it seems like inflation is on the up tick for this January so we're gonna get a pretty spicy inflation report on feb 14th.
So why are we having a rally? No one knows. Spy is gonna bleed tomorrow and next week and then a pretty big drop when inflation comes out.
But what do you guys think?