With the S&P 500 clicking off all-time highs until just recently, seemingly every week despite trading at 26.05 times trailing earnings, many feel that the combination of tariffs, the market being way overbought, and the fact that the Federal Reserve has been spooked by the recent Producer Price Index, and may tap the brakes on multiple rate cuts this year.
While the equal-weighted S&P 500 has broadened out some this year, which is a huge positive, it could be time for the market to take a breather after the frantic late winter and spring rally.
One thing is for sure: If inflation moves higher, the wars in the Middle East and Ukraine don’t finally end, and our crushing national debt, approaching $36 trillion, continues to spiral out of control, the path of least resistance will be down. Investors should consider seven smart moves to do now.
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