While it was the first losing week in 8 for the major averages, bulls should continue to be happy as such minor losses after significant rallies are just part of a consolidation period. Tuesday was the only positive day for the week but again we are talking about a very low volatility environment, where “down days” are often in the spirit of -0.15%. That said the weakness in the Russell 2000 was interesting this past week.
While these type of quotes – now incessant it seems – should worry you, it hasn’t matter to the market….
“There is no reason for stocks to go down substantially at this point, as earnings growth is robust and global economy is improving. The path of least resistance is higher,” said Steve Chiavarone, portfolio manager at Federated Global Allocation Fund.
“I don’t really see how this bull market gets derailed,” said Maris Ogg, president at Tower Bridge Advisors.
News flow was really quiet outside of some tussling over tax reform.
The mega capitalization glamour stocks – especially in technology….Continue reading