© Reuters. Bull Market Update: Year End Targets?
4,700 seems to be a point of serious resistance for the S&P (SPY) leading to an extended consolidation period hand in hand with violent sector rotation. Why is this happening? What happens next? And how to trade this environment? The answer to these questions and more are discussed in this market commentary below.(Please enjoy this updated version of my weekly commentary from the Reitmeister Total Return newsletter).
Over the past week the S&P is relatively breakeven. But if you ask the average investor how they are doing they will tell you unequivocally that this weak has been downright brutal.
That’s because we are going through the same kind of consolidation and sector rotation period experienced a dozen or more times since this bull market began 20 months ago. That being where all the money flows to the FAANG stocks (and some of their best friends) and everyone else gets kicked in the groin.
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