[sparklite2]

It’s called ‘consolidation.’ The people who want to buy have bought, and those who want to sell have sold. The direction it takes next depends on the overall strength of the economy. If you believe the delusional 4.5% unemployment balloon the administration is floating, then there’s a good chance for a bullish continuation. If you don’t, stay long or in cash.

[entropy12]

I am Staying in short term bonds paying 2.3%. Better than CD’s and MMF’s paying 0.1%.

[SkyPilot]

It’s called ‘consolidation.’ The people who want to buy have bought, and those who want to sell have sold

Agreed.

The ONLY Buyer of Stocks Just Stopped Buying

Also, he makes a great point here:

After trading in a steep, bubble-like channel from late 2011 into late 2014, with only 10% maximum volatility top to bottom, the market finally lost its momentum… just as the Fed finished tapering its QE. That’s because the Fed was the primary driver in this stock bubble in the first place!