Is it Safe to come out?

Weekend update

After last weeks write up “Nowhere to Hide”, we left you with the impression of time and price being the determining factors on when the market would bottom.  We had a short term call on the anticipatory trade into Microsoft’s earnings and the Fed which worked, however, it was not without a few ulcers and deep breathes.  The Fed told us they do not care about the stock market right now.  Wealth Effect be damned and perhaps welcomed by the Fed.  In fact, maybe they want some of the day traders to make themselves available in the real economy to cool wage inflation?  Kidding aside, the Fed is planning many hikes, a balance sheet run-off and is planning to walk the tight rope hoping to not slow the economy into recession while reducing inflationary pressures.  So what now?