Generally agree with this but I am not sure the rest of this year is up.
2018 has been different in many senses & just as Thanksgiving was not bullish as is the case in most years, it is also
most likely December will not be as bullish.as previous year.
For now, the bull soldiers on after the drop during the past 2 month but the market can turn on any news that is even slightly bad.
Stock market’s selloff is only half-done, and final leg will come in 2019, warns Morgan Stanley strategist
Strategist sees the S&P 500 trading at 2,750 in the new year
“The Rolling Bear market is now better understood by the consensus; and more importantly, it is better priced, with forward price/earnings falling 18% from peak to trough. In short, while 90% of the price damage has been done by this bear, we’ve likely only served 50% of the time,” said Mike Wilson, an equity strategist at Morgan Stanley, in a note to clients.
Wilson was among the handful of market watchers to predict the recent market wipeout even as stocks were trading at record levels.
“The Rolling Bear is tired from all the mauling he has done this year. However, he is likely just resting rather than hibernating,” he said. ”The final leg of this bear likely won’t come until numbers are reduced for 2019, although that should feel a lot less painful than the multiple compression stage we experienced in 2018.”
https://www.marketwa...gist-2018-11-27