Roberts: “We Are Near The Point Where Rates Will Matter”
by Lance Roberts via RealInvestmentAdvice.com,
ZeroHedge.com
Sun, 09/23/2018
Bulls Push To All-Time Highs
Get out your party hats ladies and gentlemen, the markets hit all-time highs this past week.
After increasing equity exposure in portfolios on the 11th, as the markets pulled back to the previous break-out support levels, I suggested a push to new highs was likely.
“The pullback to the previous breakout support level did allow us to add further exposure to our portfolios as we said we would do last week.
(If you want to see our portfolios they are now online at RIAPRO.net.)
Next week, the market will likely try and test recent highs as bullish momentum and optimism remain high. Also, with many hedge funds lagging in performance this year, there is likely going to be a scramble to create some returns by year end. This should give some support to the rally over the next couple of months. However, as shown above, the short-term oversold condition which fueled last week’s rally has been exhausted, so it could be a bumpy ride higher.
The breakout above the January highs now puts 3000 squarely into focus for traders.”
The Rest…HERE
