Fed speakers are using this opportune time to posit their views.
Beware the old way of thinking about the Fed.
This is the kind of market that's worth running to when the stocks of good companies go down.
This appears to be one of the most spirited debates within the Fed in several years.
The battle lines are clear.
In addition to Fed Chair Jerome Powell's twin testimonies in Washington, the Fed will be out in force this week.
I am neutral on this market, and only a cool off of the hottest stocks can justify a further advance.
The Fed can't justify a rate cut soon on the strong jobs growth data. Expect bond selling and a follow-on hit to equities.
It is an odd dynamic right now with the Fed being more important than the actual economy.
It's time to move past the 'bad news is good news and vice versa' mentality.