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“Can the bulls pull it off?” That’s the question on 162 million minds right now. Tonight we’ll answer it.
Stocks started the week off on a strong note, but, as of about 1 PM today, they’re in “catching their breath” mode.
Nevertheless it’s way too early to say definitively that the tide has turned back in favor of the bulls, especially from an internal standpoint. By the same token, it’d be premature to make that call on behalf of the bears, although they’ve run the table more often than not this month.
We’re still not seeing leadership emerge from the right places, although it’s beyond interesting (and no coincidence) that stocks and crypto are now behaving similarly from a technical standpoint.
Of course, all of this ties directly back into current uncertainty about the economy. Some talking heads like to say “the economy isn’t the stock market,” but they’re certainly tough to separate at this particular moment in time.
Bulls, whether economic or equities or both, certainly have their work cut out for them here.
Dr. Copper is giving us a signal that things might not be so bad after all, and I find myself sitting in the “economic slowdown” camp, across the road from the “recession” camp.
Let me show you what I mean by that…
