• 94 days Could Crypto Overtake Traditional Investment?
  • 99 days Americans Still Quitting Jobs At Record Pace
  • 101 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 104 days Is The Dollar Too Strong?
  • 104 days Big Tech Disappoints Investors on Earnings Calls
  • 105 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 107 days China Is Quietly Trying To Distance Itself From Russia
  • 107 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 111 days Crypto Investors Won Big In 2021
  • 111 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 112 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 114 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 115 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 118 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 119 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 119 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 121 days Are NFTs About To Take Over Gaming?
  • 122 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 125 days What’s Causing Inflation In The United States?
  • 126 days Intel Joins Russian Exodus as Chip Shortage Digs In
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Hard To Say This Is Bearish

Strongest Six Months In A Decade

It is difficult to imagine a new bear market starting when the economy is growing and the technicals are favorable. Tuesday's GDP report showed the U.S. economy is coming off the strongest six months of growth in a decade. From Bloomberg:

Gross domestic product, the value of all goods and services produced, rose at a 3.9 percent annualized rate, up from an initial estimate of 3.5 percent, Commerce Department figures showed today in Washington. The median forecast of 81 economists surveyed by Bloomberg called for a 3.3 percent gain. After the 4.6 percent increase in the second quarter, it marked the biggest back-to-back advance since late 2003.


The Weight Of The Evidence

Outside of GDP, how does the bigger picture look? Things have happened fast over the past four weeks. This week's stock market video takes a step back and looks at the new evidence that has surfaced in the stock market since the October 15 low.

Given the still constructive environment for growth assets, we recently reduced exposure to bonds (IEF) and added (once again) to our equity stake (SPY). Even the strongest rallies experience red days from time-to-time, meaning we have to have realistic expectations in the short-run. However, it is possible the market is just digesting gains and ready for another push higher.

$SPX S&P 500 Large Cap Index INDX

As always, the market and data will guide us if we are willing to wake up each day with a flexible, unbiased, and open mind.

 

Back to homepage

Leave a comment

Leave a comment