Skip to main content

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:

The S&P 500 appears to have avoided some potholes on its bullish road – for the moment. The recent consolidation period has ended with a grudging and somewhat tentative upside breakout, which looks like an extension of the advance that began last November.

An acceleration of the uptrend well into the 2,300s on increasing volume – and with more stocks making new 52-week highs – would be the ideal clincher for the bulls. But the bull market still has to deal with its internal weaknesses, its downside cyclical pressures and the dangers of a "buying climax."

Investors should not chase stocks at these levels. Pullbacks will offer opportunities to buy technically-strong stocks.

Read the full report here.

Globe app users click here for the full report

Read other research reports here.

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe