Good Breadth

One of the best market timers we know is Joe Feshbach. We were colleagues at Prudential-Bache Securities during the 1980s. I’ve been summarizing his views on a weekly basis since the beginning of last year. Here are his latest thoughts he shared with me, this past weekend:

“The good news is the market got bumpy as predicted, and it lasted a whole two days. The chart I’ve been alluding to still remains short-term bullish, and I still believe the S&P 500 has a shot at 4100+. However, the sentiment indicators are not great at this time, and thus that’s all I see for this rally phase.”