It has been nearly 20 years since the S&P 500 has gone through the first four months of the year without a 5% pullback.
While we’ve watched and waited, nothing has been able to derail this Bull. Good thing is we’ve remained bullish in our intermediate-term view (3 months out.) We’re still bullish here, and yet, we still wait for our 5% pullback. It’s basically a tired tune by now. But we don’t come to the market for entertainment.
The market isn’t offering much to our liking when it comes to buying our beloved Growth Stocks. We’ll wait on this front for as long as it takes for an attractive setup to develop.
Short opportunities look better as we fully expect the gap up on the Naz from last week to close. That’s the kind of move we fade, not buy. The market’s strong run fueled by so called “artificial” stimulus from the Fed will see an end at some point. Odds are the market will anticipate its end months before it happens, probably this year.