Globe editors have posted this research report with permission of Phases & Cycles Inc. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:
A period of heightened volatility and increased risk of a correction is fast approaching. But our bottom line is that regardless of how the last four months of the year unfold, the major market indices could be at higher levels than at present by the end of the year. This bull has plenty of gas left in its tank.
Profit-taking in over-extended stocks should be considered. A further opportunity to accumulate technically positive stocks on weakness should present itself.
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Ron Meisels