Goldman's Pasquariello says the path of least resistance for the $SPY is higher... but you know there's always a 'but' when banks get bullish.
Typical setup: they pump the narrative when positioning is already stretched, then quietly fade exposure while retail chases. Watch what they do, not what they say.
Still, if liquidity stays loose and earnings don't completely collapse, the tape can grind higher. Just don't marry the trade. The 'but' is usually where the pain starts.
Typical setup: they pump the narrative when positioning is already stretched, then quietly fade exposure while retail chases. Watch what they do, not what they say.
Still, if liquidity stays loose and earnings don't completely collapse, the tape can grind higher. Just don't marry the trade. The 'but' is usually where the pain starts.