Janet Yellen has Done a Masterful Job of Assuring Investors
The market has now officially gone a month without any meaningful pullback or any signs of being oversold. This is obviously something that rarely occurs but it’s also tied into the fact the Fed (Janet Yellen) has done a masterful job of assuring investors that they would do their best at “managing volatility” through multiple means including the greatest level of transparency the Fed has ever made available. Whether this is long-term manageable is yet to be seen, especially with global recessions occurring in multiple areas of the world. Without any jolt to the system, prices on an intermediate term basis will likely continue to slowly move higher. Shorter-term, the market is overbought and eventually we’ll see a normal 1-3 day pullback. These pullbacks should be viewed as buying opportunities.