" on Tuesday. "We saw it in 2015 where we had an earnings recession — earnings went down and the stock market was flat. Well, this year we have earnings that are flat and may end up being down. … That's quite a divergence."
"You very rarely get that kind of divergence that lasts very long. We had it to a smaller degree in 2012, and we definitely had it back in 1997, and the market continued to move higher but that of course was in the middle of a bubble," he said. "Unless you're really looking for a big bubble here going forward, it's kind of hard to be bullish on the broad S&P. That doesn't mean that we have to have a correction or a recession or anything like that, but I do think it's means that between now and at least the election next year, stock picking and group picking is going to be the main priority," said Maley.
"It's all about the 'non-QE that's really QE' that we're getting here from the Fed and you can't fight the Fed," Tatro said during the same segment.
TradingNation It’s likely either 1998 or 2000-2001. Very very similar setup to both periods.
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