We have had a clear theme the last couple weeks in commentary. That being how the S&P 500 (SPY) bull market gets tired after periods of devouring great gains. A digestion period is what naturally follows. Kind of like after Thanksgiving dinner when we plop ourselves down on the couch for a while to let things settle in. After enough time and football watching we can get back to the table and gobble up some desserts. That is the story that is playing out now. So we will sort through some fresh details and then plot our way forward. Read on below to find out more….(Please enjoy this updated version of my weekly commentary from the Reitmeister Total Return newsletter).
I am betting a few of my beloved Reitmeister Total Return (RTR) members thought I was crazy on Friday doubting the ferocity and longevity of the nearly 3% bounce that unfolded the previous couple sessions. Yet, for the several reasons I will share again below, I just saw a bit more turmoil ahead as part of the markets digestion period.
“Am I going to change my tune about the short term outlook for more downside and volatility?