Date: June 10, 2016

The Answer is NO

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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Paul Schatz, President, Heritage Capital