Everything is tenuous in a holiday-shortened week (markets are closed July 4th, and open only a half day on the 5th). While the S&P DID hit a new, all-time high of 5,500 on Tuesday, you can't really tell. Marginal highs are no big deal while markets remain entrenched in a consolidation range. Markets may be up a little today, but it will be on light volume because evenyone's gone for the holiday. We expect markets to continue in this slightly-sideways, higher trend for the time being; there's really not much to cause a sharp move one way or the other. Yet. It could happen, with the Employment and CPI reports coming up soon, and earnings season commences in earnest next week. (A really weak employment report isn't great for those losing their jobs, but the markets will love it, as it could precede a Fed rate cut). Similarly, a weak CPI report would suggest the Fed would cut rates sooner than later. Note, the markets' trajectory now is identical to this time last year; review what happened last October: the potential for a 5 to 10% correction is still in the cards.  Hosted by RIA Chief Investment Strategist, Lance Roberts, CIO  Produced by Brent Clanton, Executive Producer ------- Watch the video version of this podcast: https://www.youtube.com/watch?v=i4lTPrUdWRY&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Get more info & commentary:  https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #EmploymentReport #CPI #FederalReserve #InterestRates #SlowingEconomicGrowth #Wages #Inflation  #20DMA #50DMA #200DMA #RSP #SP500 #InvestingAdvice #Money #Investing