Stock Market: Run-Up Looks Ready To Pause Or Reverse

By John S. Tobey

The stock market just completed a 50% retracement of its coronavirus plummet. So, good times ahead? Probably not yet.

Disclosure: Author just sold equity portfolio and now holds 100% cash reserves

Perched atop a 3-week peak to which it was driven by reduced negativity is hardly cause for a bull market rallying cry. Instead, the stock market needs to prove its mettle either by pausing to build a foundation or by testing (i.e., not breaking below) its recent lows.

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