The Market Looks Great for Today's Session, But It's Getting Ripe for a Pullback
- As we thought, Chairman Powell’s testimony did not create any problems for the stock market. In fact, they help the market rally. However, tomorrow’s employment report could cause some volatility.
- Either way, even though the stock market looks good for today’s action…and could still rise a bit further in the next week…it is becoming very overbought. Therefore, investors (even those who see the market going a lot higher eventually) should expect a material pullback that begins before the month of March is over.
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