108 months and counting ...
The market has been on a remarkable run and except for a few hiccups
along the way continues to show promise of future growth.
While interest rates have risen as have oil prices, many
commodities are still lagging. The FAANGNOSH stocks continue their
dominance in the market while emerging markets are seeing a downdraft
as the tariff wars begin.
It appears to me that seven of the FAANGNOSH stocks are in either a
correction or turning over which could be troublesome for the market
in the 3rd quarter despite continued earnings growth thanks to the tax
However, margin debt continues higher. Stock buy-backs are also
supportive of the market.
Employment looks strong, freight rates and volumes continue to show
improvement. The retirement of Justice Kennedy from the Supreme Court
will probably add fuel to the progressives who worry about Roe vs.
While immigration issues continue to vex politicians and the
public, the mid-term elections may begin to affect this market.
Remember to ... "Keep It Safe, Simple and Stay Focused!" going
July 1, 2018