Hopfully Bullish?

Once again we are melting up. Not sure why at the moment. Maybe Fed speak?? The weakness in the dollar appears to be spreading. Yesterday I bought a little DBP and I am thinking about buying more UTF. These are defensive plays. I don't see why we are going to rally from here. Housing, dollar, war, deficits, inflation, what should be slower growth ahead. All are headwinds. If growth and inflation doesn't start moderating the Fed has to keep raising rates. I am in the camp of no lowering by the Fed this year or at best maybe one lowering, unless the dollar plummets or we have some financial blowup somewhere.