Goldman's Trading Desk Calls Time: "A Pullback Would Be The Healthiest Thing For This Market"

A full-blown buying panic - such as the one observed in the market since the start of the month - after an actual "all clear" such as that a year ago when Trump tacoed to tariffs, is healthy; a full-blown buying panic on the assumption that Trump's barrage of daily, euphoric amounts to something more than just an attempt to move the market ever higher, is the opposite of healthy and can be a major bull trap.

Whatever the reason, as discussed earlier, the technical picture, largely on the back of record CTA buying...