Weekly MOTR Report (WMR): “Bull Market Set to Resume After Two Year Hiatus”

This Week's Highlights

  • The new year begins with a much needed boost in market internals, setting the stage for the first new high in two years for the S&P.
  • As a result of the S&P's 17% rally over the past two months, momentum and breadth are very extended. While a pause is to be expected, we should anticipate buyers to emerge no lower than the 4500 to 4600 area.
  • Extreme momentum is a necessary ingredient for a new bull market

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