Within Striking Distance

Now that the SPX has closed above 2800 it’s within striking distance of re-taking the 2018 highs up near 2870.  Crazy enough, this could happen quite quickly.  Economic data is light this week so eyes are on earnings.  Absent a black swan event, the stage is set for this market to go higher.

That’s really the summary.  The rest of the news about trade wars and international relations is so badly misrepresented by partisan media outlets that markets have about tuned them out completely.  Unless policy actually changes — or missiles start getting lobbed at countries — it seems this market is about over the finger pointing.  It’s getting back to a more normalized ‘results’ driven analysis, with the Fed’s monetary policy now taking a partner roll to economic data rather than being the primary driver.

The SPX is a bit over-bought at this point — and least by the numbers — so a pull-back of 25ish points is not out of the cards.  But the bigger technical up-trend remains intact at this time.


Please remember that past performance may not be indicative of future results. Different
types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product
(including the investments and/or investment strategies recommended or undertaken by
BigFoot), or any non-investment related content, made reference to directly or indirectly
in this blog will be profitable, equal any corresponding indicated historical performance
level(s), be suitable for your portfolio or individual situation, or prove successful. Due
to various factors, including changing market conditions and/or applicable laws, the
content may no longer be reflective of current opinions or positions. Moreover, you
should not assume that any discussion or information contained in this blog serves as the
receipt of, or as a substitute for, personalized investment advice from BigFoot. To the
extent that a reader has any questions regarding the applicability of any specific issue
discussed above to his/her individual situation, he/she is encouraged to consult with the
professional advisor of his/her choosing. BigFoot is neither a law firm nor a certified
public accounting firm and no portion of the blog content should be construed as legal
or accounting advice. A copy of the BigFoot’s current written disclosure statement
discussing our advisory services and fees is available for review upon request.