Our Current Market Outlook remains “Market in a Confirmed Uptrend”. The stock market will likely use this historically quiet week as a pause to refresh in the middle of this “Tax-Cut rally”. With the prices of oil & copper hitting their highest levels in a year or more, and the possibility of a big infrastructure bill coming in January, it’s easy to make a bullish case for the economy and the stock market. However, the markets often do the opposite of what the crowd expects, and usually without much warning. While our technical indicators remain in-sync with the markets upward trend, we recognize that certain “events” could surface as early as January that could spark a round of profit taking and lead to a short-term decline in prices. Barring an unexpected negative economic catalyst, the markets direction will likely continue its upward climb as we head into the fourth quarter earnings releases, which begin ramping up in late January. Continue to enjoy the ride, but keep your eyes wide open for the advent of any Distribution Days (professional selling) as the new year begins. Happy new year!
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The information in this article is based on data obtained from recognized services and sources and is believed to be reliable. Any opinions, projections or recommendations in this report are subject to change without notice and are not intended as individual investment advice. Not to be used as legal or tax advice.
©2017 Triumphant Portfolio Management, LLC.
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