How These Two Bearish Notes Could Impact the Stock Market
StockNews
Published Nov 16, 2021 11:28AM ET
Updated Nov 16, 2021 12:30PM ET
How These Two Bearish Notes Could Impact the Stock Market
We’ve been tracking the S&P 500 (SPY) meltup for four, straight weeks. Fair to say, that it’s over as we pulled back more than 1%. Still, the market’s advance remains on firm footing. We’re simply graduating to a more, mature phase of the rally. The easy money has been made. We will continue to move higher but likely with more volatility. In today’s commentary, I want to discuss our overall outlook and strategy into year-end. Plus, note two bearish developments that we need to monitor. Read on below to find out more….(Please enjoy this updated version of my weekly commentary published November 15th, 2021 from the POWR Growth newsletter).
First, let’s take a look at the past week:
As the chart above shows, the S&P 500 didn’t do much over the past week. It was a healthy and well-deserved breather following the index’s nearly 8% gain from mid-October to early-November.
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