No Market For Old Labels
Bull markets don't let you in, bear markets don't let you out - this market just churns.
Note: We have updated our Blue Heron Systematic Portfolios. Subscribers can click here to see the current weightings.
Key Takeaway: This label-defying market that has produced a surge in momentum amid persistently bad breadth and a deteriorating trend in earnings revisions. It's not really a bull and not really a bear. While risks are elevated and argue against a Q4 rally (at least for now), at the index level the market has remained surprisingly buoyant. It feels more like complacency than resiliency to me.
We dig into these market developments in our latest Three For Thursday video update:
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