Bob Elliott
· Nonconsensus
· May 03, 2026 at 22:06
· ⏱ 2 min read
| Read on Substack ↗
Summary
The author observes that the stock market is currently ignoring rising oil prices and bond yields. The two major near-term tests for the ongoing bull market are identified as the upcoming employment report and tightening conditions in the oil market.
•Stocks have remained strong despite a recent rise in oil prices and yields.
•The upcoming employment report is a significant near-term catalyst for the market.
•Tightening conditions in the oil market are presenting another test for the bull market's resilience.