Mid-Year 2013 Technical Market Forecast UpdateJuly 8, 2013
Grady Gaynor Named a 2013 Five Star Wealth ManagerOctober 4, 2013
The rest of the year will be a roller coaster ride.
Some people like to ride roller coasters, and some do not.It can be an unpleasant experience when it involves watching your wealth go up and down.
In early July I indicated that that the stock market would become very volatile (ups and downs) as we enter into what I believe to be the last phase of this bull market.It appears that the short-term rally we saw in early July has come to an end, and the market is headed for another correction. The stock market almost hit our targeted range by reaching 15,658 on August 2nd. The next correction could be as steep as 10%; however, there is no evidence in what we are monitoring to suggest the bull market is over yet, and our range of 15,700-16,300 on the DOW Jones is still possible by the conclusion of this bull market. In talking to our clients across the US, we continue to see some decline in business revenue for small business owners, which may be another indicator of what lies ahead for the stock market.
This correction should last a few more weeks. There will be rallies from day to day, but the direction should remain down for a while. When the overall bull market is over, we expect a 12-18 month bear market. Our current target date for this bull market to finish is February/March 2014.
More as we see it.