MLR - PMP 1/2/15
Major averages ended 2014 with roughly -1% sell-offs on higher volume adding another distribution day onto the already sizeable count. Leading stocks continue to lag while defensive industry groups are showing strength. The major averages, when they have hit new highs as of late, have done so on low volume. So while the market is looking tentative, quantitative easing has been a formidable opponent to the bears and has surprised the majority since 2009, pushing the market to new highs on a regular basis. That said, opportunities have presented on both the long and short side of the market, so we continue as always to keep a close eye on such opportunities, updating members in real-time when actionable entry points present themselves.
Peace and prosperity in 2015.
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