Markets Refuse to Give In – For Now Anyway

There’s no questions these markets are well overdue for a pretty good breather, but it’s also important to note that markets often have a funny way of rotating short sellers until a point in time they finally give up, throw in the towel, and call it a day. Then, the markets finally decide to rollover. Believe us, it happens all too often. Many of us remember it happening over and over again back in the Internet Bubble days of the late 90′s before the markets finally decided to blow themselves up.

One just has to wonder right now with earnings coming to an end, the Fed no longer being a rock star, and Trump continuing to get the blame and the credit for anything and everything else, what’s going to be the catalyst to take stocks all that much higher in the near-term? We just don’t see any sort of significant catalyst other than the fact stocks continue to have the wind at their backs, which quite honestly could be a big enough reason, so we’ll remain cautious until further notice.

No big moves today. Not until we get a far more definitive signal. However, once these markets finally do decide to break down for a while, it’s going to serve up what we believe to be some tremendous buying opportunities in names you’ve never heard us mention here.