The U.S. Stock market is close to breaking out of its trading range. We have said for some time that when the break-out came, it would be powerful. We just couldn’t be sure whether the move would be higher or lower; thankfully higher is the verdict. Stock prices have been supported by good business conditions, but held back by a myriad of geo-political concerns. Those concerns seem to finally be abating, so higher we go.
This stock market has tried to break-out several times this year and failed each time. It may do so again, but the internal strength of this market looks particularly good this time; so we’ll see.
Even if this move fails, the environment remains good for stock market returns.
The Lonely Bull