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.