By: Steve Smith
The stock market has been incredibly resilient, shrugging off both slowing economic data and potentially explosive geopolitical events.
The market is already up some 2.5% in just the first two weeks of the year. I’ve already seen two market prognosticators pull their sale of their 2020 Outlook because half of the names on their buy list have already hit the annual price targets. Granted, they did go with momo names like “Tesla (TSLA)” and “Beyond Meat (BYND)” which are up 30% and 50% respectively since the beginning of the year.
And while there is a sense of growing euphoria, or at least that this bull can do no wrong, the rise has been relatively orderly.
Indeed, since a breakout in mid-October in which “SPDR S&P 500 (SPY)” has gained some 10%, 87% of the days have been positive. Only two days have posted moves in excess of 1% and they were both down days.
It’s simply an… Continue reading at StockNews.com