Market Briefing For Monday, February 12

Nearly 'time for a breather' - seems to be the majority analyst view of S&P's upside romp, which we anticipated would move over 5000, without multiple expansion, because it's broadening-out just enough to help hold together.

We have NOT shorted this market at all (thankfully); while lamenting the slow uptake of actual valuation candidates, mostly in the small and mid-cap areas.

There may be a little more in the mega-caps but most roasted the bears sure enough, but also 'from a bullish perspective'; a setback would be constructive not negative; because otherwise stretching a rubber-band until it snaps is not as likely to have a less dramatic effect. Allowing it to relax and contract, with a probably subsequent advance (Spring rally), would be the healthiest way.

There may be a little more in the mega-caps but most roasted the bears sure enough, but also 'from a bullish perspective'; a setback would be constructive not negative; because otherwise stretching a rubber-band until it snaps is not as likely to have a less dramatic effect. Allowing it to relax and contract, with a probably subsequent advance (Spring rally) would be the healthiest way.

Market X-ray: surmounted S&P 5000 after days of high-level hesitation. Most talk of 'correction' or retreat; but to the risk there's risk, it seems to be mostly in heavily-shorted mega-cap stocks.

Bottom-line: on the prowl for a constructive setback anytime 'soon' after at least one more effort to firm S&P further. More stocks participating helps.


More By This Author:

Market Briefing For Thursday, February 8
Market Briefing For Wednesday, February 7
Market Briefing For Monday, February 5

This is an excerpt from Gene Inger's Daily Briefing, which typically includes one or two videos as well as more charts and analyses. You can follow Gene on Twitter  more

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.