Bull Slow but Intact
Yes, it is still a bull market. Stocks ended the week on a positive note with the Nasdaq hitting a new record high. Wednesday's pullback bounced off support at its 50-day average. The S&P 500 is challenging its March intra-day high at 2801. So we are still in bull market but with the bears pulling hard to change this 9 nine (9) year bull run.
Among the factors helping the bears:
Continued tweet fears (and real news) about the trade war. Investors fear that this could become increasingly disruptive.
A tightening spread between short-term interest rates and their longer-term counterparts with fear of an inverted yield curve. That could cause a recession!
Midterm elections and a shift on power that could further expand the childish bipartisan fighting and stalling doing what is right for the country.
We had a great alert on AVGO this past week with a 30% return and a questionable alert on CVX. Some were stopped out on CVX others are still holding we will continue to monitor.