Most of these are just bouncing after the recent downturn. I don't see them as long term trends and would be worried getting in now. I go with stronger longer term vibrant companies with consistent growth and no bad trends and press surrounding them. Microsoft is ok and AMD I'd be careful because the chip sector has been in a rough patch.

The S&P will probably keep rising unless another big worry arises, especially if government stays open and the China trade wars ease or end.

The economy and stock market look fine for another year or so right now after overcoming a rough patch with tariff, shutdown, rising inflation, Federal Reserve tightening, and slowing growth intrigue. Hopefully, this next year will be calmer.

The good news is that the bears are still around but not that dominant and the bulls are around but are less than before. This means the market is liable to be relatively stable even though volatility is still higher than it has been. We will see what news drives the markets, but I don't think it will be too bad or too wonderful. Most people, like politics have already made up their mind about this market and won't change their minds unless something big happens.

I agree it is hard to reverse QE. I think every economist knew this long before and some just chose to lie about it. It is good the Fed is trying to reverse it a little. I do not think they can or will reverse it as much as some expect. Sadly it will take a long time and more than likely a recession will hit before they reverse a substantial amount of it.

If allowed, the Fed should slow interest rate hikes and continue to reverse QE as long as it can in a reasonable manner. This is not really under the Fed's control. The Fed has raised rates as a delayed response to higher rates in the market. They were not the initiator of higher rates as they usually are. Now that long term rates have subsided, hopefully the markets will hold and rate rises can be slowed considerably.

The author is right that tightening the Fed's balance sheet is risky. This is reversing QE which is hard to do. This is why it should not be done save maybe only in a recession. Certainly not the way it was done this cycle.

The good news is growth estimates have dropped even for stalwarts and I think the market understands more the coming quarters that pricing power will determine companies success in the future more than phenomenal sales growth. This is probably bad for the slew of money losing start ups the street keeps dumping into the market. However, they do this because some are obviously willing to gamble with them. Casinos will stay open as long as their are gamblers willing to bet on losing propositions.

Long term rates are dropping and growth is slowing. We are quite far from an economic downturn measured in growth and going the opposite way in inflationary pressure right now. I agree that inflation will remain especially if Chinese tariff wars continue and oil rises. So there is some concern.

Long term, the fact that Republicans no longer keep a lid on US spending but have all but given up on fiscal conservatism makes a pertinent long term argument towards some diversification to hedge for inflation.

The issue for Canada and especially the banks is less negative free cash flow than a threat of asset depreciation, especially if the depreciation hits the real estate market. The same goes for the US. Sadly, increasingly real estate is becoming a speculation game than a fall back asset of strength for families.

Sadly although younger people are making more there are less and less jobs. The simple fact is this may be caused by the evaporation of lower skilled jobs putting those who would have had them into the unemployment line. If you look at the unemployment of 18-30 year olds in government statistics it is not good.

I am not bullish on natural gas, but I am positive on oil demand. As for oil prices, I expect a gradual rise but nothing significant with potential downward shocks on the way. The simple fact is, there are too many companies with shaky finances in oil right now.