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Today's Commentary
 
Friday, April 19, 2019


S&P has bounced 24% from the Christmas Eve low to now being within striking distance of the all time highs. This begs the question as to what happens next???

??

Too many investors have a feast and famine view of market moves. So to them the likely result of this latest bounce is to go right into the next pullback or correction.

However, what they are missing is that often after a big feast investors go into digestion mode. This where stocks go through a long period of rangebound trading action coupled with constant sector rotation making it difficult to find true market leadership.

This scenario seems more likely at this stage. The more puzzling question is whether that happens after we hit the old high of 2941 or after a burst up to 3000. I put my money on the latter.
 
  


 
 
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