Is this a big consolidation pattern for the next leg up, or a big distribution phase before a leg down? [Week #6]

Inflation expectations are political

Macro dashboard update

Growth

• S&P 500 Forward Operating Earnings: Operating earnings are still trending upward nicely, but we are starting to see a slight decrease in EPS forecasts. Analysts have been revising their 2024 EPS forecasts upward, which is normal behavior during earnings season. However, they have also revised 2025 earnings downward. While thi…