The View from 5th Avenue

The View from 5th Avenue – 9 February 2023

You know what ‘they’ say… “Don’t fight the Fed!”… But the market really has been more of a fighter than a lover lately in this regard. For today, however, the fighters ultimately conceded as fatigue set in- even despite a strong setup out of the gates- sending the S&P lower on the day to close below 4100. Markets traded in a traditional upper left to lower right formation, ending the day near session lows albeit on more muted volumes. Perhaps simply a healthy pullback as we try to grapple wi…

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