Strength in stocks continues and the wide-spread pessimism that was prevalent at the time of the Meta Strategy’s buy signal is slowly, but surely, dissipating.

The narrative of an impending recession leading to new stock market lows has morphed from consensus to niche opinion.

Stock prices front-ran an improvement in the economic outlook from a point of deep pessimism.

The pendulum is now in the process of swinging far into optimism territory, which heightens the probability of a stock market consolidation over the seasonally weak summer months.