Bill explains how a consolidation would be healthy for the stock market.
What do we think? Yep. Well, I think. I think the market, to Joe’s point, a consolidation here would be really healthy. But we could still grind higher if a rotation happened. Some of the some of the steam that really drove this, some of the big mega-cap tech maybe earnings pretty bracing themselves in. And then to the Goldman Sachs note, Toni’s note there in order to have such a vicious move to the upside, there needs to be money in the sidelines to fuel that. Why was the money on the sidelines? Because Powell said he was going to bring pain over a year ago. He said he was going to bring pain. And guess what happened? Inflation has come down. So now that we’ve seen this continue, evolution of moving away from needing to bring pain, now that we can have a little bit of a sort of open space, if they make a transition this week and they remove that restrictive note around it and they really sort of pave way to a cut in March. I mean, what’s going to stop this market continue to go already? You know, look, the market’s moved a lot because of the perceived pivot that the Fed has already made. John Hatzius, by the way, doubling —