If we were playing Jeopardy, the question would be, “Has the Stock Market Peaked?”
The other day, I wrote about the potential for a 1-3% pullback in the context of generally higher stock prices. That remains my view and weakness can be bought. It’s amazing that a single day of decline in the stock market after a 5% rally can bring out so many bears.
Stocks were overdue for some weakness and now we have it. While it’s probably a coin toss in the short-term with the Fed meeting next week and UK vote exit the eurozone on the 23rd, the intermediate-term remains solid.
Enjoy the weekend!
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