The economy appears to be poised to take off.
It should be if the stock market is a discounting mechanism of the future. The S&P 500 index PE is almost 25. That means investors think that earnings are going to take off, or they think there will be more stock buybacks. Or both.
That doesn’t mean the stock market will not demonstrate continued volatility.
Or be vulnerable to shocks. OR, THE BIG ONE. RATES GOING UP.