The Next Up Wave Could be Substantial
Yesterday I pointed out the market was oversold and you could see from the large number of ETFs on the list that a bounce was due. Interest sensitive stocks are still adjusting to the prospect of higher rates while the consumer cyclicals are on a tear. All signs are pointing to expanded US growth and should prices rise while rates are rising, the next up wave could be substantial because a lot of potential money has not found its way yet into the market because of the concern of rising rates. If that concern subsides, this great big bull market is going to continue for a while.