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Editor's Note: Below is an excerpt from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look.

... Yeah, I think I hear you… “but, but, but – you were right KM, the Fed is going to cut… and I can’t fight the Fed… and I can’t have another month like May… but I want to have more Counter TREND weeks like I could have had last week…”

But you can’t cheat and have everything “priced-in” without anything happening (economically) yet…

Unfortunately, the Fed can’t print Q2 earnings season… and with a 90% probability of a July Fed Cut priced-in, what happens if they don’t cut on time (or by enough) either? Don’t forget market history on the #GrowthSlowing front.

CHART OF THE DAY: What If The Fed Isn't Dovish Enough? - CoD July Rate Cut1

CHART OF THE DAY: What If The Fed Isn't Dovish Enough? - early look