The S&P 500 Acts Tired

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Our View

This week's jobs report will be critical for the Fed rate path. I had a feeling we could see some downside and put this in yesterday’s Our Lean Section: ''I have a funny feeling, with all the economic reports, job numbers, and all the Fed speak, we could see some downside this week." 

This was mainly based on how far the ES has gone without any major pullbacks and people being too complacent. But — and there is always a but — money tends to flow into stocks at the first of a new quarter. 

Here’s a CNBC story about the Fed having to get more aggressive with its rate cuts. I can't deny that the Fed wants to cut rates, the question is...should they?