ACTV - The Stock Market Is Channeling Yogi Berra
2024-05-29 08:40:00 ET
Summary
- The legendary baseball catcher Yogi Berra could sure help us out in understanding the current investing environment.
- Having a 'bearish engulfing pattern' is no guarantee of seeing a bearish reversal.
- I think that if we rise above 4.74% on the 10-year rate in June, stocks will flirt with the April lows and if we head towards 5%, the April lows in the stock market may not hold.
The legendary baseball catcher Yogi Berra could sure help us out in understanding the current investing environment. He famously said, when giving directions, “When you come to a fork in the road, take it.” The problem is, he didn’t elaborate which fork to take. I think the stock market reached a fork in the road last Thursday, and I am not sure which fork it will take from here, but we’ve seen this “fork” before: