April 10, 2017
By Peter Bower
Central banks around the world are still in reflation mode and many economies are responding. The commodity collapse over the winter of 2015-2016 galvanized central bankers to respond with fire-power; they have been successful. Recently, investors have begun to doubt the sustainability of economic acceleration. Market action has gotten bumpier as other scenarios are explored.
Make no mistake about it, reflation is alive and well. No trend advances in a steady, straight line manner. All go through moments of retracement and consolidation. That is all our stock market is reflecting. Corrections are always possible to unforeseen events, but with that caveat in mind, this market wants to go higher.
Stay steady, my friends.
The Lonely Bull
