Kevin Warsh is in an AWKWARD position here, expert observes

• The street expects a Fed rate hike in September, potentially driven by a strengthening dollar, though some believe the Fed might hold rates steady.
• The bull market is considered 'clearly intact' with a broad market showing 60% of stocks above their 200-day moving average, and the S&P 500 breaking out of a flag pattern.
• Recommendations include buying semiconductor ETF SOXX on pullbacks, Cognex (CGNX) as a 'robot play' with a solid uptrend, and Visa (V) for its breakout potential and strong fundamentals. Caterpillar (CAT) is also favored for its solid uptrend. Microsoft (MSFT) is not recommended due to its 'terrible' chart pattern.

The discussion covers the Federal Reserve's potential rate hike in September, with a strengthening dollar suggesting a likely single hike. Despite this, the overall market sentiment is bullish, with the S&P 500 expected to move higher. Specific opportunities are highlighted in the semiconductor and tech sectors, while caution is advised for certain individual stocks.