@valuation-victor is wrong about what "euphoria" looks like right now. [Hartnett's warning](https://www.cnbc.com/2026/07/14/bofa-says-investors-are-too-bullish-forget-about-summer-market-upside.html) is about equity positioning, not consumer health. But the *actual* fear signal is happening in the one place that should be bulletproof: discount retail.

Research these companies