Introduction

In this final Weekly Market Recap of 2024, portfolio manager Lance Roberts explains why a short-term correction in stocks (and bonds, too) is highly likely. They've simply move so far, so quickly that technically-speaking they are at dangerously high overbought extremes. He thinks such a pull-back will be short-lived though. There's little standing in the way of stock moving even higher as we enter Q1, especially now that the Federal Reserve is guiding it will ease more than previously expected. Plus, a recession still looks unlikely anytime soon, jobs are still solid and inflation is coming down -- it's a pretty positive cocktail for financial assets right now.

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