Very rare we don’t have much to complain about. After our “changing of the guard” thought, lower beta areas have come on broadening out the market. But the other side in where growth was being whacked, stopped dead in its tracks on the downside when AAPL gapped up. Since, growth has bounced decently.
The charts of the indices look constructive. The S&P may be completing a good 6 month+ base in here as it approaches the highs. The DOW remains weaker but also looks to be emerging above intermediate term levels.
For sure, still plenty of areas not working but improvement continues and now “feeling” weakest areas like EMERGING MARKETS, CHINA and others may be trying to put in lows. When the worst put in lows, usually good news.
And yes we recognize we are into the August/September period when markets are supposed to be weaker.