I would add that we’re riding a dead cat bounce hoping for an emergency rate cut.

That’s a super good question and the answer I believe is they can’t. But they’re not doing it to keep inflation in line. They’re going to make an emergency cut of a half a point and we just don’t know when. Probably sooner than later.

If rate hike lower inflation and tariff equal inflation then how can they lower rate at this time?

TLT dropping, what does that mean for the market?

e.g.- A fed cut, or talk from the Fed that leads the market to believe one is coming sooner and/or larger than expected, would also be another change in fundamentals that would likely be the catalyst to trigger a breakout above the recent trading range, thereby being the catalyst for a technical breakout.

Yes, the economic front/fundamentals, such as the tariff war.