Real GDP declined at a 1.5% annual rate in the first quarter and, as of Friday, the Atlanta Fed’s “GDP Now” model projects zero growth in Q2.

We became bullish about stocks once mark-to market accounting was fixed in March 2009.

All eyes will be on the results of the Federal Reserve meeting on Wednesday when it announces how much it’s going to raise short-term rates, its new projections for the economy and short-term rates for the next few years, as well as Chairman Powell’s press conference.