Current Outlook
"August 2017"
96 months and counting ...
As the market closed on Monday, it had been exactly one year and a month since
the last follow-through event and the rally had managed to chalk up a
run of 96 months.
The DJIA appears headed for the 22,000 level in the
next few days.
However, the gains appear to be concentrated in just a few names
recently as
the small-caps continued to show uncertainty.
As earnings season continues, it is apparent that failure to meet
expectations will result in significant changes in the price of a stock.
Volatility is still at record low levels and rotation continues to be
a major mover in the market.
The disconnect between perceptions and economic reality continues
to grow wider. Investors should be cautious and look for the call ...
"the king has no clothes!"
Fred Richards
August 1, 2017
