Bullish Policies...Expensive Market...Higher Bond Yields: The Future Is Still Quite Uncertain

Without a major increase in growth, the stock market will face headwinds in 2025

Once again, we want to begin by reiterating once again that one of our goals is to provide comments from both sides of the bull/bear ledger each weekend.  Therefore, it might sound like we’re talking out of both sides of our mouths at times.  We’re really just trying to give both sides of the story.  However, we always try to let you know which side of that ledger we stand on at any given time. 

Tabe of Contents:

1)  Last week was a great week for stocks.  If one group can play catch up, things will get even better.

2)  There are several reasons that have nothing to do with the election…which could lead to a late-year “melt-up.”

3)  The situation in the Middle East is much, much, much more dangerous that investors realize right now.

4)  The energy stocks are on the cusp of an important breakout.

5)  Updating the charts on the major indices (which all show strong momentum).

6)  The bond market stands at a critical juncture on a technical basis, but it may take time to sort things out.

7)  Keep any eye on the liquidity indicators.  Risk assets are still all about liquidity (even after the election results).

8)  The bank stocks are overbought near-term, but if they break to new highs soon, they should run (big time).

9)  Potpourri….Thank you Veterans!!!!!!!!!!

10)  Summary of our current stance…..As Lee Couso would say, “Not so fast.”