8-15-24 Is This Correction Over? | Before the Bell
Markets have enjoyed a 4.5% rally over the past five days, clearing the 100- and 20-DMA, and now right at the 50-DMA: Markets are now back on a buy signal and investors will challenge that 50-DMA today. If we can hold above the 50-DMA through Friday, this correction is over. At least, for now. One key element driving this rally: Share buy backs, and that window closes again in September. What will happen during the seasonal period of de-risking as buyback activity goes away as we go into the Election? Meanwhile, Bond Yields are starting to come back down following inflation reports showing a downward trend and inferring the Fed will start cutting rates. Crude Oil has had a decent rally, and there are a tremendous amount of shorts on oil prices. There is a potential risk for higher oil prices going into the Fall and the Elections; Energy stocks have been doing "okay;" we're being cautious with Energy.
Hosted by RIA Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton, Executive Producer
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