William Delwiche, CMT, CFA published an article in See It Market on Friday discussing the ongoing upward movement displayed in the S&P 500, as illustrated above.
Delwiche, a portfolio manager at RW Baird, articulated that “[W]e need to watch how situations in the markets and the economy actually develop over the course of the year.”
“Overall, breadth is improving and is providing the stock market with a bullish tailwind. It does not appear to have reached levels that appear exhaustive from a longer-term perspective,” Delwiche said.
He continued, “Presidential election years tend to have a positive bias, although the opportunity for gains is best in the wake of the election (or at least once the election outcome appears fairly certain). Renewed geopolitical uncertainties could add to the customary election-related noise and add to volatility heading toward mid-year.”
Read the full article on See It Market: S&P 500 Trends Argue for Continued Stock Market Strength.