Climbing the “Wall of Worry”

You’ve probably heard the phrase “Wall of Worry".

It’s when the stock market keeps grinding higher, even when everything and everyone screams it shouldn’t.

Whether it’s geopolitical tensions in the Middle East, trade wars, rate cut debates, or even how bad the economy supposedly is.

None of this has stopped this market from doing what it’s been doing lately.

The S&P 500 just joined the growing list of indexes around the world that are printing fresh all-time highs.

This recent rally has been built on fear. On headlines convincing people that stocks can’t go higher. And yet… they do. Over and over again.

What’s more bullish than that?

Seriously.

New highs don’t happen in downtrends. Period.

This is exactly what healthy market environments look like.

The crowd waiting for the perfect pullback just keeps getting left behind.

You’re seeing it across the board… Not just the S&P.

We couldn’t imagine a more bullish backdrop for US equities heading into the second half of the year.

Oh—and major shoutout to Strazza!

He was one of the first to call out the potential for a V-bottom back in April… while most were busy screaming about revisiting lows.

We’ve been open-minded about this scenario for a while.

And now, with more and more indexes confirming with fresh highs… we think the risk-on environment continues for longer.

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