We are now about two thirds of the way through 2026, and stocks have responded with a solid 14% or so gain for the S&P 500. In the classic match-up of Bulls versus Bears, it is amazing that with basically the same data, two vastly different competing camps, have completely different market opinions. On the positive side, earnings have been great this year so far, now projected to be about 30% higher than the prior year. There is plenty of cash in the system, ready to be allocated for any potential good idea and the economy for all intents and purposes is strong. On the negative side, many observers are questioning those same earnings, as much of it may be coming from the unprecedented AI build out, financed in a very circular fashion, by a gang of big tech firms. Bears also see negativity to the climbing national debt, now over $40 trillion with a T, which could lead to much higher interest rates. There you have it…the lines have been drawn, and the current trend has the Bulls ahead so far…