Two recent instances when uncertainty seemed low and confidence was high 🌈

Plus a charted review of the macro crosscurrents 🔀

An AI-generated image of rainbows in the sky.

Stocks ticked lower last week, with the S&P 500 declining 0.7% to close at 4,288.05. Down 4.9% in September, it was the worst month for the S&P since December. The index is now up 11.7% year to date, up 19.9% from its October 12 closing low of 3,577.03, and down 10.6% from its January 3, 2022 record closing h…