MARKING TIME, BUT HIGHER
Don’t fall into the trap that we are at SPX 1400. The resistance as I have pointed out is SPX 1420-1440. SPX 1400 means nothing. The good signs continue to be the awakening of the mid-cap sector which has already cleared the triple-top that the SPX is fighting with. That means more participation and a broadening rally. Funny money (fed rebate) will hit pocketbooks soon, and not coincidentally the retail stocks have been flashing on my green screen. I hope the FRB moves only .25% and hints it is now an inflation-fighting machine. A stronger $, a result of such a move, would create the necessary rotation from the parabolic, over-loved commodity and energy names to other unloved sectors.
3 years ago • Notes