The talk on Wall Street is that a correction is overdue. It’s been 530 days, or more than 2 years, since the stock market has suffered a 10% correction. This record has been surpassed only twice before. The longest such period was from March 2003 to October 2007, during which time the S&P 500 never suffered a 10% correction. Turning to my instinct and intuition again, I believe we are now on the way to a new record number of days without so much as a 10% correction. The public is now entering the market exponentially. But meanwhile the institutions are gradually slipping to the sidelines. We now have six distribution days on the NASDAQ, and four on the S&P – silent evidence of institutional withdrawal from the market. Bold subscribers might enter the market with DIAs on the thesis that we are entering an historic melt-up in the main averages. ... Log in or subscribe to continue reading.
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