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Waiting for the straw that breaks the camels back- S+P 500 close to opening levels

As the US and some European stock markets lift to fresh records during the first quarter of the year, many analysts are still buying into this dynamic record rally. At the same time the geopolitical backdrop is probably at its riskiest in more than 2 generations. Right now the stock markets do not care about that and it is greed that is driving the show. When greed gives way to fear it will be an entirely different matter though, but it will need a catalyst to make that happen. However, that is not at all evident right now. One thing to note and it is worth noting; is that some of the richest insiders on the planet have been off-loading stocks in recent weeks. So, should we be concerned about that? Well, when such people sell their own stock it is potentially an alarm bell, but not a suspicious one at this stage. After all that is what you are supposed to do- Sell into a market that is rising to unseen highs and not try and bank your gains on the way down, when prices are tumbling. Only time will tell if some of those Mag 7 leaders are later to be the canaries in the coal mine. Meantime this market is in a massive super-cycle wave 5 (as reported on here before) and we just have to wait for the straw that breaks the camels back before it will turn around. Meantime, the market wants to get rich riding the wave. The S+P 500 is not much changed from earlier on the opening, currently trading at around 5,230 
 

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