The market has been milling around aimlessly since the May highs. The market acts as though it has something on its mind, but it is not ready to tell us what's on its mysterious mind. We've seen a number of rallies, each interrupted by a sudden reversal with minus figures at the close.
Is the market toying with us? Has the market got us pulling our hair out? Or is this just the market teaching us a course in patience? As for Richard Russell, I'll just wait: sooner or later the market will come up with an answer.
The continuous selling near the close of each day makes me think that big money, professional money, is slowly and subtly exiting the market. Meanwhile, everybody is looking for a safe haven.
That leaves bonds out (the bull market in bonds is over). Maybe dividend-increasing blue chip stocks are the answer. Well, the problem there ... Log in or subscribe to continue reading.
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