S&P 500

With concerns rising that the market has gotten well ahead of itself over the practical reality of Trump tax cuts - most recently voiced by Goldman which over the weekend said that "we are approaching the point of maximum optimism and S&P 500 will give back recent gains as investors embrace the reality that tax reform is likely to provide a smaller, later tailwind to corporate earnings than originally expected" - Barclays decided to look at one of recent history's most notable tax regime changes: the Reagan tax cuts.

What it found was interesting.

Goldman Sachs really wants the market lower.

By the SRSrocco Report,

The Great Precious Metals Market Disconnect that took place four years ago is now a ticking TIME BOMB.  While the Fed and Central Banks have been relatively successful in propping up the broader stock, bond and real estate markets, time is not on their side.  The more the highly inflated markets continue higher, the more breath-taking will be the inevitable collapse.

In its quarterly Beige Book publication, Goldman conveniently gathers anecdotal evidence of fundamental and thematic trends from the earnings transcripts of companies in the S&P 500. As Goldman's Davis Kostin explains, since President Trump’s surprise victory over Hillary Clinton in November, investors and management teams have been acutely focused on the new administration’s policy proposals. In this Beige Book, we focus on management commentary regarding four key pillars of the Trump Administration’s agenda: tax reform, regulation, fiscal spending, and trade policy.

This market reminds us of this..."none shall fall"

Gold remains 2017's biggest gainer, oil is down, bonds flat and the panic bid this week dragged The Dow higher...