Let's start with the positives first. You survived last weeks eclipse without harming your vision. {Thumbs up emoticon} Oh yeah... and it turns out all those eclipse market crash articles were meant for 2024 not 2017. Now that we have that out of the way, it's on to some more pressing matters: Did the bull market make a meaningful top earlier this month? Where are we headed in the weeks and months ahead?
The top is in! ....until the market makes another top... and another one... and another one. First the market has to shake this bout of fear. Just a few weeks ago fear had never been so low, at least measured by the VIX. Despite all the drama and even aggressive comments and actions from North Korea, the VIX hit 8.84.
S&P500 futures are lower this morning on continued North Korea headlines. Up until late yesterday afternoon, every single named sell-off has ultimately been a tremendous buying opportunity for stocks. Anyone buying the dip or named sell-off in the S&P500 since its inception, up until late yesterday afternoon, has done incredibility well.
