The past week has once again seen several major media headlines hinting at market tops and extremely bearish outcomes. This wouldn’t be so hard to take seriously if those same sources hadn’t been posting the same for the past several months… while the S&P 500 (INDEXSP:.INX) and Dow Jones Industrials (INDEXDJX:.DJI) continued higher.
Furthermore, I believe that the longer-term macro backdrop is (and has been) bullish. As I’ve pointed out several times, the market has broken out of a multi-year/decades long consolidation and looks very strong longer-term.
Pullbacks and corrections should be expected, as that’s part of investing… and part of bull markets.
In this weekend’s stock market video, we highlight a rare multi-signal indicator that has only recorded twice in the past several decades. In addition to this rare signal, we’ll look beneath the market’s surface and discuss breadth, momentum, and sentiment.
Please feel free to leave any comments or questions below. Thanks for watching.
Stock Market Video – November 12th
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Twitter: @CiovaccoCapital
The author or his clients may hold positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
