And the likelihood that inflation will be persistent should keep interest rates higher for longer, which will have multiple negative economic consequences.
Which one will win out?
Let's check the charts of this name as some sideways action looks likely for a while.
Investor uncertainty is mounting in China as 'red lines' shift on Communist Party sand.
Every time traders think they're about to kick the ball and send the iShares Russell 2000 ETF flying, Lucy pulls the ball away and they end up flat on their backs.
ADBE may go sideways for a bit before moving higher.
Plus, a couple major stock indexes appear to be in better technical shape.
The bulls are focused on stocks that are benefiting from AI while the bears argue these few names don't fix the other economic issues that are still lurking.
This has been a stock-pickers market: It's narrow picking on the upside, sure, but I see lots of options on the downside.
The action broadened on Thursday, but a small group of big stocks still dominated.