"Momentum is in favor of the market to continue to go up," argues Adam Coons. He says we're back to where we started at the beginning of 2025, with valuations at elevated levels and a "very, very thin" margin of error that comes with it. Adam expects the FOMC not to cut interest rates in July and makes the case that the Fed doesn't need to cut anytime soon. On stocks, he sees financials doing well in the back half of the year and labels Alphabet (GOOGL) as an undervalued Mag 7 company.