The Day Ahead: Serious Dents Remain in the Bull Case
The at-large issue this week is the sheer joy the market bulls are expressing after Monday's beat-down. Exuberance oozes from their mouths, their chests red from multiple self-induced poundings. Heck yeah, they are jacked for being correct -- for two days. Strange how this all works, no? Listen, I have no axe to grind with the market. I call this stuff as I see it -- and, to me, the investing landscape is evolving in a manner that seriously dents the bull case.
This doesn't mean the market is poised to go to hell in a handbasket. On the contrary, it places more of a premium on individual stock research, including locking in on key technical levels and doing valuation sanity checks. It also warrants a healthy understanding that the next three months of global macroeconomic data won't completely support present valuations. As these reads trickle into the picture, the market will experience an increasing number of triple-digit red sessions in the Dow and then seemingly get them back -- but not really....459 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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