Scott Martindale“Stocks fall on Fed taper discussion.” That’s the gist of what you heard in the media on Wednesday to account for the market’s late-day pullback. There’s always some sort of attempt to explain daily market action. But the reality is that investors simply must take a periodic breather to regroup and retrench, particularly when making an assault on round-number resistance for a major index. Read more about Sector Detector: Stocks retrench for another assault on round-number resistance

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As I and most other observers expected, stocks took the go-signal from Congress and burst through all prior resistance levels with barely any hesitation. And why not? Read more about Sector Detector: How to avoid stock meltdowns while the market melts up

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Scott MartindaleThe intransigence continues in Washington, and it has kept stock market buyers at bay until they get the go signal from Congress. This has left the sellers in control as investor sentiment has temporarily shifted from a buy-the-dip mentality to protect-your-gains and preservation-of-capital. Read more about Sector Detector: Buy the dip sentiment gives way to preservation of capital

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Scott MartindaleYou know by now that the Fed last week opted not to begin tapering its quantitative easing (i.e., buying of Treasuries and mortgage-backed securities), primarily for two reasons, I believe. First, rapidly rising long-term interest rates were already starting to hurt the recovering housing market (and the resulting wealth effect). Read more about Sector Detector: Congressional dysfunction puts bulls on hold, for the moment

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Scott MartindaleBond yields have crept back up to near multi-year highs as the bond market appears to be anticipating some measure of tapering in the Fed’s monthly bond-buying program. This undoubtedly has caused some hesitancy among stock investors, too. And then there are the looming debt ceiling and budget battles, as well as concern about slowing corporate earnings growth. And let’s not forget the comparisons to 1987 we are hearing, with Marc Faber (a.k.a., “Dr. Read more about Sector Detector: Still bullish despite worrisome indicators

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  • Scott MartindaleStock investors are surveying the view from these lofty heights, with the S&P 500 trying to hold up just below the 1700 level, and they appear to be feeling some vertigo. They are wondering if there will be a catalyst to take stocks higher before Labor Day, or if the dreaded correction is imminent. However, my concern is that investors might be hamstrung by a perceived no-win situation.

Read more about Sector Detector: Forward-looking rankings solidify bullish bias

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Scott MartindaleSmall caps, mid-caps, Financials, Telecom, and Consumer Discretionary were among the market segments that hit new highs this week, even as bearish sentiment and short interest have risen, and there is still plenty of idle cash on the sidelines looking for a home. Read more about Sector Detector: Higher quality may be back in vogue

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Scott MartindaleCentral banks reiterated their commitment to supporting the global economy, and US investors showed their approval. The central banks are clearly prepared to keep the liquidity flowing for now, austerity be damned. Such statements are music to investors’ ears. Read more about Sector Detector: Rankings take a noticeably bullish turn

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Scott MartindaleStocks finished the month of April breaking to new highs, with the S&P 500 rising above 1597. But May Day selling put a temporary hold on the bullish celebration that will certainly occur if the S&P 500 can make a clean break above psychological resistance at 1600. Was May Day the start of the usual “Sell in May and go away” practice? Read more about Sector Detector: Knock, knock, knocking on new highs … but running on fumes

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Scott MartindaleDespite an environment of uninspiring economic reports, stocks have regained their footing once again. Last week, bulls found that they simply couldn’t ignore the Boston bombing like all the other worrisome news, but the quick capture of the perpetrators has removed the domestic terrorism cloud. Read more about Sector Detector: Stocks may stumble but will not fall

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