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:
The S&P 500 has been in no hurry to pause or pull back during its recent advance. But bull markets do not move in straight lines forever, and a period of healthy correction and consolidation to refresh this one is overdue. January should see weakness, with the downside risk remaining around 3-5 per cent, as previously projected. News-related volatility may occur.
Following this correction, we expect another up-leg, leading to more all-time highs.
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