Tax refunds are expected to be very large. That's a huge tailwind in the next few months. Are we poised for a melt up?

If taxes are going to give the most struggling classes a money injection, trump will start trying to pump the market leading up to the elections, is there really any bear case? what narratives can really drag anything down before the elections? we have strong economic growth, interest rates are going to be mostly stable despite all the rhetoric making it a non issue in the short term, tons of govt spending, more trade deals, trump is out of countries to pick fights with... how is there any bear case when money supply is going to rip with tax refunds?