This looks to be another proof of the effects of inflationism.
The broad market has essentially been rising, which gives credence to the "rising tide lifts 'all' (most) boats" phenomenon.
Bespoke Invest has a wonderful series of charts expressing these developments.
The first one deals with the general market where 90% of component issues have risen above their 50-day moving averages, shown above. And Bespoke also has a breakdown on the % on a per industry basis here.
Nevertheless, current string of gains has made the entire market, as represented by all 10 sectors, as "overbought".
This implies that a natural correction should be expected anytime soon.
But as a caveat, such retracement isn't likely to herald the return of the bear market as perma bears have been craving for.
Yet, it's not that I am bullish with US stocks or her economy, instead I see this a formative phase of a new bubble cycle panning out.
The broad market has essentially been rising, which gives credence to the "rising tide lifts 'all' (most) boats" phenomenon.
Bespoke Invest has a wonderful series of charts expressing these developments.The first one deals with the general market where 90% of component issues have risen above their 50-day moving averages, shown above. And Bespoke also has a breakdown on the % on a per industry basis here.
Nevertheless, current string of gains has made the entire market, as represented by all 10 sectors, as "overbought".This implies that a natural correction should be expected anytime soon.
But as a caveat, such retracement isn't likely to herald the return of the bear market as perma bears have been craving for.
Yet, it's not that I am bullish with US stocks or her economy, instead I see this a formative phase of a new bubble cycle panning out.
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