Morning Note | July 19, 2023 | Hitting Extreme Optimism

Good Morning!

The Dow Jones Industrial Average is now up for 8 straight day as the earnings season starts to ramp up.  During the earnings periods, the 30-days from the bank kick off, markets make almost 80% of their movement in the three months.  The markets are definitely euphoric and the options market now shows a 35%-40% chance that the S&P hit 5,000…