Globe editors have posted this research report with permission of Phases & Cycles Inc. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:
Two weeks ago there were signs that the risk/reward balance was changing and that a period of profit-taking might occur. This is perfectly normal, as we see even a minor correction is enough to change trend.
The bull market needs periodic pullbacks. We are still cautious short term but remain very bullish for the longer term. There is still a lot of spring left in the legs of this Leg-5.
A corrective period should reveal buying opportunities.
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