The S&P has been on a tear of late, rising on a weekly basis for six consecutive weeks.
That kind of win streak doesn't happen very often.
And...it ended yesterday.
Not only did stocks close down for the week (slightly), but they broke out of the rising wedge technical pattern they've been trading in -- to the downside.
Portfolio manager Lance Roberts would not be surprised to see a near-term pullback deepen from here, especially given how close the US presidential election is at this point.
It would be very rational for fund managers to lock in some of the near-term gains they've just enjoyed and de-risk from here, to wait until the dust settles after the election.
We discuss the odds of that that, as well as the continued rise in bond yields, Lance's latest trades, and the seeds that sowed the American Revolution in this week's Market Recap.
#bullmarket #bondyields #interestrates
