Investors look ready to press pause on the stock rally, a day after the S&P 500 SPX, +1.20% finally moved into positive territory for the year, and the Nasdaq COMP, +1.12% marked its first record close since Feb. 19.
Saut stands by what he told this column last October, that stocks are in the grips of a secular bull market that started in March 2009. He is referring to a long-running trend that can last up to 25 years, but is often marked by smaller bear markets — secular bear markets work the other way around. “I think we’re working up to a near-term trading peak in mid-June, but it could be that it doesn’t really pull back and just consolidates and goes sideways, and you get another leg up to make new all-time highs,” he says, adding that those new highs will likely arrive by December.
The market Dow YM00, -0.91%, S&P ES00, -0.79% and Nasdaq NQ00, -0.32% futures are down, alongside European stocks SXXP, -1.23%. Oil CL.1, -0.34% is pulling back and the dollar DXY, +0.20% is up.
A grain of salt recommended. 'he believes the market has a lot going for it — tons of pent-up demand for the economy from lockdowns, a V-shaped recovery, and a likely win for President Donald Trump in the November elections.'
Based on fundamentals of course
Govt policy stacked toward interests of the rich its time for polciies that favor the majority. BLM should declare a candidate for President use this momentum for long term change
Yeah BUBBLE