Moving From One Critical Juncture...To A New One
- After a nice bounce at a critical juncture, the stock market already faces another key juncture. We’ll now find out whether this bounce turn into something more than the kind of “dead cat” bounces we saw in late August and early October. If it is more, it will be quite bullish.
- The near-term decline in bond yields pales in comparison to the huge rise we’ve experienced, so it’s going to be hard for it to fuel an extended rally in the stock market. The divergence between the bond & stock markets is still a huge one.