USMC - Bulls Charge Ahead On Hopes Fed Stands Pat
- This week, the market did register new highs, but only by a small fraction. What is important to note is that these incremental gains are burning through buying power, which leaves the markets increasingly vulnerable to a correction, given the proper catalyst.
- However, for now, with volatility very compressed, there seems to be little to worry about. Despite falling consumer confidence, strong inflation readings, and weaker economic growth, the “bulls” continue to push risk on expectation the “Fed has their back.”.
- While the market rallied nicely to marginal new highs this past week, market internals remain relatively weak. Moreover, money flows continue to slow.
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Bulls Charge Ahead On Hopes Fed Stands Pat