Highlights
- Our best-case scenario is that the market retests, if not undercuts, last week's lows before we can consider looking for an end to this bear market.
- On the downside, 4500 remains our target for the S&P, where the yearly Momentum Zone and our fair value based on trend earnings come together.
- With that defensive posture in mind, we are equally focused on pockets of surprising strength from higher beta areas of the market, as this is how Mr. Market reveals his. . .
