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U.S. stock indexes are on a heater.
The U.S. indexes (and those of most other countries) continue to rise along with the temperatures in what we believe is the middle innings of a topping formation. Bulls keep charging ahead, right in the face of increasing risks of a top being formed.
There is some fairly strong resistance here, but the bulls have cut through all other ceilings “like butta” so far this year, so they deserve the benefit of every doubt until proven otherwise.
Remember: a topping formation is a process that can take weeks to work through, and this one looks like it may still have a few weeks to go. So, until we see some tangible signs of an imminent reversal out there on the horizon, we will keep playing small ball, with a lean to the long side, ready to take profits when offered until this tide finally turns.
The views expressed represent the opinion of Good Life Asset Strategies, LLC. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness.
Good Life Asset Strategies, LLC is a registered investment advisor located in Fort Worth, Texas. Good Life Asset Strategies, LLC and its representatives are in compliance with the current registration and notice filing requirements imposed upon registered investment advisors by those states within which the firm maintains clients.
All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. Such an offer can only be made in the states that Good Life Asset Strategies, LLC is either registered or a notice filer or an exemption from registration is available under the securities laws or other laws.