It's hard not to become complacent watching these markets. Every day they creep higher, setting new records and providing reinforcing confirmations. It's as though all the bears have thrown their hands in the air and given up trying to push this market down. The path of least resistance is undoubtedly up.
When can we expect a pullback? If the past is an accurate guide, the Fed meeting on December 17-18 should give us some weakness, but only momentarily. The same gyrations happen around every Fed meeting - volatility rises and markets drift lower until the day after the release, when all seems to be forgotten and the market resumes its march.
With the holiday shopping season in full swing, retailers are front and center. As a cohort, retailers are up 42% this year, far outpacing the S&P 500. Investors tend to front-load retail stocks going into Thanksgiving, then take profits towards the end ... Log in or subscribe to continue reading.
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