It Seems The Glass Is Half Full.
The market appears to have decided that the glass is half full, for the moment at least. Last week’s stock price declines, mostly concentrated on Friday, can essentially be put down to the seriously overbought conditions brought about by four straight weeks of gains and two months of solid progress. There wasn’t a whole lot else behind the price slump.
Yes, perhaps economic data out of both New York state and China disappointed to start the week and some late-week Fed-speak attempted to dampen recent exuberance generated by the growing view that the days of rate hikes of more than half a…
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