Is there a glaring resemblance between the years 2017 and 1999? Yesterday, I appeared on CNBC’s Trading Nation, with host Brian Sullivan, to discuss the similarities I see between 1999 and 2017 in terms of five key economic indicators.

In yesterday’s post, we investigated whether 2017 is similar to 1999—and decided that it is. This leads us to the next obvious question: will 2018 look like 2000? And what would that actually mean?

When I look at the current economic and market environment, I think it shares a lot in common with 1999. The tech industry is booming, unemployment is low, consumer and business confidence are high, and investors are very complacent. But just how similar are 1999 and 2017? To get a better sense, I decided to do a detailed economic review. So, without further ado, let’s set the wayback machine to 1999.

What are market expectations for the rest of the year? Yesterday, I appeared on CNBC's Power Lunch alongside senior contributor Larry Kudlow, discussing the impact of the Trump administration on the economy with hosts Becky Quick, Brian Sullivan, and Steve Liesman.

Will the Federal Reserve continue its rate hike policy? Earlier today, I visited Scott Gamm on the set of TheStreet TV to discuss the Fed's next move, plus why I think the markets can go higher despite a significant technology selloff.

The Federal Open Market Committee (FOMC) kicks off its regular meeting today. Markets expect a rate hike to be announced on Wednesday. What I’m really interested in, though, is what the Fed plans to do about rates for the rest of the year, as well as how it intends to reduce its balance sheet.

Last week was quite slow from an economic news standpoint, but things will pick up in the week ahead.

Well that was unusual. After all the concern around yesterday’s events, two of the three turned out to be even more disruptive than expected. The British election resulted in a hung parliament, substantially increasing political uncertainty, and former FBI Director Comey’s testimony was every bit as potentially concerning for the White House as had been anticipated. Yet the markets are up today pretty much across the board. What’s going on?

Today is a big day on the current events front, so much so that I’ve seen it referred to as “Super Thursday.” We have the British election; the meeting of the European Central Bank (ECB), which will determine the course of monetary policy; and, closer to home, the testimony of former FBI Director James Comey. I've spent a lot of time recently discussing these events, both individually and collectively, and what they could mean for the U.S. economy and markets. On reflection, they provide a good example of how investors spend quite a bit of time focusing on things that do not really matter—and ignore things that do. But more on that later.

I have revamped the monthly market risk update this month to incorporate a wider range of factors and, I hope, a more useful presentation style. My economic risk factor update seems to have wide appeal, so I am going to use the same traffic light system here, as well as incorporate some economic metrics outside the market.